Given that this will increase the scope of renovation significantly, I have decided to narrow the scope of the reno at this time.The commercial space is approx 1600 sq ft so its decent size and is enough for a storefront by itself.

Fifth, elements outside your planning or control can increase expenses significantly; tax increases due to budgetary shortfalls, insurance costs doubling due to natural disasters, tenant damage beyond what the security deposit will cover.  

However, there may be increased tax complexity and formation/maintenance costs.

By building a home, you have the potential to increase the property's value, which could allow you to sell it for a profit or use it as a rental property to generate income.

With your knowledge and drive, I'm confident that you can leverage the BRRR strategy to maximize returns and build a successful investment portfolio.Looking forward to connecting with you.

@Brianna Johnson you should be able to scope your competition by finding listings on Zillow and looking at the pics.You could even schedule a few showings as a "tenant" - suggest looking for self-showings so you don't waste anyone's time.

I am new to real estate investing and I am in the process of purchasing a self storage facility that has under 100 units.

The letter it self is much more intimidating.However, your idea is also good.

One way or another, however, the investors must work to pay down loans, increase rents and decrease expenses wherever possible.

You can truly increase your profits if you are paired with the right agent.