Hi everyone, I'm new to the site and have spent the last year or so learning,  reading, and over-analyzing.

I think I've gotten the general messages that:a) Don't invest JUST for the tax advantages.b) I need to do more research.Excited to do some more research and learn more by hanging around these forums.

Share your risk management strategies and lessons learned.

You can reach out to your local (state) Self Storage Association, peruse topics on You Tube, and certainly many, many forums here on Biggerpockets with quality folks & quality content.Regardless, of how you piece your learning together, everything (soup to nuts) for an Acquisition is either FINDING a lead, EVALUATING to determine if it's a deal, now you're in the PURCHASING phase, and after you close, now it's all about MANAGING.If you think that at times it makes more sense to build than to buy, then you'll want to learn about Development & Conversions.  

Also, like any tech tool, a PMS (we use Guesty) has a learning curve. better to master the intricacies of the tool while you're still small, rather than when you have more properties to manage.

I've done some research, watched several YouTube videos and according to what I've learned since my credit is above 700 I should not be a problem getting approved key banks.  

I always ask after learning more about the person and their situation.

But we live and learn.

@John D.To learn more about what qualifies as self-employment income in order to open a solo 401k plan, see the following: https://www.irs.gov/businesses/small-businesses-se...Also, IRS Publication 560 (the publication for self-employed plans such as SEP and SIMPLE IRAs, ans solo 401k plans) has a section that gives examples of self-employment activity.

If I've learned anything from years in real estate is that no matter how much money you have, there's always someone with way more.