I have had a situation kind of similar but it involved an ex-spouse.

You wouldn't have a deductible as your insurance isn't involved.

Instead, the typical self storage arrangement involves an owner renting to hundreds of tenants at a rate that allows the owner to pay all expenses themselves....This is not to say that it can't be done relatively passively.

These deals usually don't have an appraisal involved which is a critical matter in any sale, IMO, for a buyer, you and the next one, so be sure the value is there.....Good luck

It can be hard when you're personally involved.

Her plan all along was to get into something that produces income.There is a facilitator involved so imagine she has been versed on what she can and cannot do.

Make sure that you factor a property manager in your return calculations so that it requires the least involvement on your part.

Hope it works out, hate to see you get into a situation where the property is constantly subjected to crime/vandalism and you regret your involvement.

Guess what happens... the realtors and contractors make money while the investor is lucky to make minimum wage for the hours and risk involved.

It was harder finding a lender who would actually do a 2nd FHA than it was to actually get the okay on it as I guess there is more work & more risk involved.