This can lead to non-compliance with building codes, resulting in future legal and financial problems for the buyer.4.

You can read it for yourself:https://www.hud.gov/sites/documents/DOC_7780.PDF However, there are variables to consider.

This is largely based on experience so you can shoot for the moon, but be prepared to settle on what works with your strategy.Once you have done one, now you are building experience... and then you can move forward and hopefully with better terms.

Renting it out to build long-term wealth? 

Preserved for future generations as a way for the average income earner to build wealth over time and provide a clean, safe place to live for other people.We need more units constructed.

What I remember so distinctly about acquiring the first rental is how there were a lot of documents and signatures, but no actual money at the closing.

Hello, I am currently in the beginning stages of building my first SS facility.  

Or are you at ground zero with no experience no cash and want to use real estate as a tool to build wealth?

Your lucky, your in an area where there is more demand to build Self Storage.  

Otherwise, it's just panhandling, "I have nothing to offer but will you help me buy an apartment building?"