I suppose some people do that but I 100% assume that if they can't supply financials there is something to hide.

I assume you have studied your state landlord tenant regulations in which case you know the rights of your tenants regarding inherited leases and rent increases.In your situation I would give notice to raise rents on all M2M tenants immediately.

As a side benefit, you would improve your asset protection by taking the excess funds out of the LLC since they wouldn't be available to potential future creditors of the LLC.Regarding the application process, the brokers are subject to "know your customer" regulations so they will need to know identifying information for the human being that is authorized to make decisions on behalf of the entity.  

Hard to accomplish with contractors in short supply.

I probably missed a bunch of information, but can supply it if needed.

Will I have trouble finding tennants, similar to high supply and low demand situation? 

We do Market studies internally for a quick and dirty Supply index - Self Storage SF Per Person. 

Get approval for the plans from the HOA, and verify that they are in accordance with local building regulations.

. - financing, regulation, taxation are all different here.

They would supply the money and I am doing the sweat equity.