I've already spoken with a couple of financial consultants about self-directed 401k's, but all I get from their perspective are the specifics/details on how the financial vehicle in question (self-directed 401k) functions.

These investment vehicles are better suited for higher-income earners and those with a higher net worth. 

If I am uncomfortable getting out of the vehicle in an area to me it's a Class D neighborhood.

I have quadplex with an 7 spot parking lot and was asked by a tenant to make one of the spots reserved for handicap vehicles. 

* there are many, many, many different vehicles that can take you to each bench mark in your investing journey and uncovering these to set a path for yourself will be your first step!) 

When the liabilities are greater in total than the assets, within any "investment", then that vehicle is not an investment...at least as far as dollars and cents is concerned.

While not great compared to other investment vehicles the potential ARV is appealing to me. 

Get yourself a dependable vehicle that is not too expensive and does not have a lot of miles on it.

I thought about a space to develop into large vehicle & equipment storage 

The coverage is often capped at around $300k for homeowners polices, and then an umbrella policy would pick up from there, usually up to $1M or $2M, which covers multiple properties and vehicles for the insured.