The student then brings a deal to the coach and forms a joint venture, and the percentages of the GP are divided up by the different duties and tasks assigned to each member of the GP.

How much are you willing to lose if something goes south?

Some will lose everything; many will quit, but the successful will never throw in the towel.

that sounds too good to be true frankly.. caution unless this is a personal friend or family member if its a private lender you met on line.. good chance you will lose any up front money you give them

If they keep stalling the money by requiring more and more and more and more information about the house, I could end up losing my chance at getting the home under contract right this minute.

Always possible but if they aren't losing it why would they drop that much. 

Best way I know to lose money.Pro's.. can't think of any worth while that would over come the fact that you are partnering with the government.

It just depends on how you structure the business venture.

In other words, it's not worth risking losing a great tenant to gain $900 to $1,200 per year in your case.If your strategy is to sell, then set the rent to a price you'd be willing to continue to hold at--but maybe wait until February or March, when the spring market comes on. 

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.