What would you do...The house is located in an excellent neighborhood, huge development recently took place across the road.

I second that, I'd develop relationships in the area so that you'd have 'boots on the ground'.

This is called affordable housing or variant of... and it's used by developers mostly to either get approval for things or tax breaks.

How do you become, as a starting-out developer, a public sector housing developer?

How do you finance/fund a real estate development, say a boutique residential 10-story condo?

Can you as a small, starting-out developer, partner up with an architect firm, construction firm, and the rest of people needed to make a project?

But recently I've been debating to sell or to hold for the long run. it's in a developing area in the best location of the worst town so it's been hard to make this decision. 

@Sam Puccetti I'm starting to develop a website campaign.

You may look at holding every other one for now to develop some cash flow and put off paying the taxes for now.

I have never heard of a self-storage facility that small.And ok, you could build more but if you really want to be a self-storage developer, why not look at just buying some land to build.I'm going out on a limb here because I'm not more familiar with your area than looking at it on Google Maps, but I would venture to say there's some cheap land for sale there.Also, again I'm not an expert but I have heard there are a few key metrics to look at for self-storage purchase or development.