While they generated some cash flow, I found the effort required to manage them wasn’t worth the return.

You'll need more capital and most will require a personal guarantee and personal financial backing. 

If they don't pay within the required timeframe, then I auction off the storage unit and wash my hands of it.

Our laws require us to offer a rental first come first served (first completed application that qualifies must be offered the unit).

If it crashes hard enough, it impacts your personal finances, your relationships, and even your mental/physical health.With the exceptions of politicians and so-called charities, building wealth typically requires sacrifice and time.

If any of the proceeds touch the sellers hand the IRS sees it as taking profit and you will have to pay taxes on that portion.Net proceeds - Is the net sale, minus any Equity in home being sold.I find a lot of investors who want to purchase less than their reinvestment requirements will do the calculation to see what their tax burden would be if they purchase less than they sell.

However I would say those lenders would be more willing than a bank to write the mortgage, and after completion you can refinance it.Overall, its probably easier and better use of your time to just find another house that doesn't require the construction and where the numbers make sense.

Here's a breakdown of the situation:Current Occupancy: 80% (16/20 units occupied).Current Gross Rent Roll: $14,265/month.Market Rent Potential: $17,665/month (100% occupancy).Renovation Needs: 15 units require full renovation ($10K/unit), 4 units are 75% renovated ($2.5K/unit), totaling $160K in renovation costs.Vacancy Loss: $41,820/year in lost income due to current vacancies.Cap Rate AnalysisThe seller lists the cap rate as 9.59%, but this is based on the projected NOI of $119,858 (assuming full occupancy and market rents).

Maybe something along the lines of your insurance company requires the heat to be set at certain temperatures or they won't cover a damage claim etc.This way you are telling her there is nothing you can do it about it.

I have some of the required funds in a HYSA, but will most likely need to draw from another account and I'm curious which method is the most efficient in terms of taxes/capital gains, penalties, loan repayments, etc.Based on my previous transactions in the market, I estimate ~$45k cash to close: $20k for the down payment, $15k for closing costs and prepaids, and $10k of starting reserves.