(sewer, prorate the charge, more likely septic which will result in more pump outs--you know where the tank is? 

If the economy tanks you can hope that the renter you have will continue to pay the rent and you personally might be able to subsidize yourself with a job to pay the mortgage. 

The basement is for storage only, so it's not livable space anyway. 

I can give you some general info on insuring a property:Here are some things to look for from an Insurance prospective: Any in-ground tanks (active or inactive)Any Knob & Tube or Aluminum WiringIf built before 1978, does the building have Lead Safe certificationsAny wood stoves or secondary heating units.

Is there need for RV or equipment storage in your area?

Here is what I do: I invest with different sponsors, among different asset classes (multifamily, mobile home parks, and self storage) and in different markets (Florida, Georgia, Arizona, Texas).

I own quite a few smaller multifamily investments in this town but have never purchased a larger plot of land like this so i'm  looking more in to what I can do with it (build other single family homes, storage, smaller multifamily?) 

Move all your stuff into storage (furniture, clothes, knick-knacks etc.)2.

The storage room is too big and needs to be fire rated, unless you put up a wall making it less than 100 sq ft, then you are ok, OR, you can reconnect the washer/dryer and now it's a laundry room and is ok.

I want to concert my owner occupied 17,000 sq feet 2 story warehouse to Co-sharing office & self storage.