We were investigating a cash-out refi for an out-of-state property and they were eager and had solid rates.

The economic make-up of the market the property is in is also worth investigating. 

FWIW the STR market here is cranking, just a preliminary glance when booking this stuff showed really high occupancy numbers and great rates, especially in the city centers.  

I haven't looked too much into it but from a preliminary glance it seems like there'd be better markets, but again, I just started and I haven't looked at it very closely yet.

@Presley Grooms, you should start preliminary conversations with your local banks about what you're trying to do. 

Bryan Miller sounds similar to the Mafia .I wonder if these organizations are being investigated by government authorities.

Also after doing some investigating in the basement It looks like there is mold in the basement She's not sure if the mold is causing health issues -- thats not the main point here. 

My preliminary research shows that a basement conversion is the way this is done over there, but I was really hoping to not have to share walls with a tenant, more for their sake than mine since I have dogs, but if that's the temporary cost of attaining financial freedom, I suppose I can live with it, though I may come back posting asking for a sound proofing contractor some day lol

Worth investigating further for sure.

You should investigate other self storage in the area to see their rates, occupancy levels, etc. and how they compare with this facility.