Second, a stable asset that cash flows predictably attracts buyers who want relatively hassle-free stream of income and have a long term time horizon.

I would like him to be as passive as possible, while I control the whole asset. 

Or you are concerned as comingling the personal asset? 

It is common for people homes to be their most valuable asset.

@Ron SharpThere should be lots of threads in the Canadian forums here on BP ... it seems like not a week passes without that very question.Depending upon where you are planning to invest, and what type of asset you are planning to acquire, you may have the option of using a U.S.A. subsidiary of one of the Canadian banks (TD, RBC, BMO) who will lend to you based upon your credit history and income here at home. 

@William MurdenIf there is a broker involved they might have looked at the supply index but I've rarely seen brokers do that and even then I'd do my own due diligence on it.I recommend picking up a copy of the Self Storage Almanac from Mini Storage Messenger.https://www.ministoragemessenger.com/product/2018-self-storage-almanac/As far as doing your own research on the supply index, @Mark Byrge is correct.

My background is in Finance, Valuation and Strategy and I have spent most of my time working in corporate, as well as one year on Wall Street... which all equates to not much real estate deal experience.I am most interested in wholesaling, BRRRR strategy, and finding a financial way to take down some large cash producing assets/portfolios.I am looking forward to gaining and sharing knowledge with everyone.

Would this allow me maintain all financial decisions regarding the asset, without risk of getting sued or removed from the entity?

Which allowed me to 1031 into bigger assets later without worrying about taxes. 

A key difference with section 506 investments concerns the products themselves: they are not regulated by the SEC and Investment Company Act of 1940 which governs stocks and mutual funds.