We want to be real estate investors mainly dealing with rentals, we started the LLC thinking it would make the most sense considering we’re operating out of 2 different states (we paid the fees to operate in both).

It all depends on how much you are willing to invest, what areas you are interested in/classes of properties, what your operating costs will be and of course what your end goals are.

@Andrew Johnson I'm bad at explaining sometimes.The ltv would be around 75%Gross  income                         $57,000Net operating income est

scenarios to form up your final Operating agreement.Good Examples of "What IF" scenarios:What if you get hit by a bus? 

We have an LLC set up in SC, and that is where we are operating.

He claims to have a 600 credit core and make $100K.

It depends on if you have a rural, suburban, or urban core area.Some places are doing things like it was done 40 to 50 years ago.

This could mean helping out a more experienced operator or identifying a coach/mentor.

Are you asking about buying this lot and putting an actual operating storage facility on it?  

If you value this property with a 10% cap rate with $78,9884 operating income, it puts the value at $789,840.