In growing markets, existing properties must compete with new construction of tax credit units.

All units in both buildings are separately metered for both electric and water.The 1953 building I am not too concerned with as it is a bit newer and CB construction.

A few large dorm structures being built along with even more new building construction for facilities. 

I dont think there is enough meat on the bone.

I do have experience working for Construction companies, Service Industry companies, and Independent Contractors in fileds such as Plumbing and A/C, Electrical, Multifamily Service/ Construction as well as Sales, Customer Service, Renovation/ Remodeling, Data Entry, Financial Services and Start-up Companies. 

I'm most assuredly a "newbie"; new to self-storage, new to commercial real estate and new to construction.

Would he be willing to escrow the $65k for construction draws?

House needs everything, roof, all mechanicals, etc but it's bones are good and it is a smaller home.

If you're in the category of a Home Owner and not familiar with construction techniques or dealing with contractors then it's probably a good idea for you to use Home Depot Home Services because they'll back the work.

I have joined BiggerPockets to share my commitment and expertise with the BiggerPockets community by offering professional guidance and advice in areas including real estate deals and transactions, business development, and project management strategies to improve outcomes, budget management and customer solutions.As someone who has personally experienced, solved problems and developed projects in the areas of real estate development involving engineering, architecture, construction I welcome conversations in these areas as well as those below: Areas of interest include: pro forma development, technical due diligence, strategy and company growth; development, deals and transactions; portfolio development & management; leasing; construction, engineering and architecture in project design and technical operations.Real Estate, Construction and A/E, project manager, Real Estate Investor with more than twenty years of integrating business, engineering , architectural expertise and real estate development, construction management experience in designing, managing and investing in more than $126.5 million of commercial and multi-family properties and over $100 million in private and municipal projects encompassing design/build, structural, electrical, mechanical/civil engineering and architectural services, construction management, real estate investments, due diligence, pro forma development and financing.