If you make a commitment, you will be expected to honor it.

With that said, I think I'm at a place in life where my kids are raised, and I have more time than usual to commit to a future real estate.  

The only down side is the time you have to commit to keep your education current and the fees for keeping your license active.

Is there anything else you would suggest to a person in my position with no experience in the way of storage but with a lot of construction experience (being an engineer) and verbal commitments from other silent investors interested in investing in something of this size with me.

I am just getting started in the process, but my wife and I are committed to purchasing our first rental property.  

I have dipped my toes in the water as far as starting the learning process with real estate but have not made the commitment to learn as well as act until I joined this website.

It's possible he's not 100% committed to selling. 

However, the larger their deposit is, the better you understand their commitment to the deal.

Thanks @Christian - I wouldn't mean to commit mortgage fraud.  

"Delayed Financing":  term threw me for a loop as the financing at COE was already committed.