Really close where I live, I was going to be able to manage it my self.

My self i blew it in my 20s like so many do and did.. 

I’m interested in hearing if anyone here has bought a poorly run self storage facility before and what the process looked like for acquiring it, transitioning management, and how you dealt with tenants who were consistently late, paid in cash only, lived in the units, dealt drugs from the units, and did other sketchy things.

That is when I will have been self employed for 2 years so I will be able to get a HELOC or cash out refinance on our primary residence, I am still doing research on both options, but once I get my first property I really need it to go smoothly because I don't have any savings to fall back on. 

In addition to those, are you using a manager or self manage?

I'm ok with this as long as I'm buying below market value in a compressing cap rate environment, I am self-managing effectively and I have enough reserves to cover any cap ex AND a margin call. 

My interest is to do Real Estate Investing with the funds, I have been told I should move it into a Self-Directed Roth IRA I'm thinking about having both for the time being, I'm interested in buying apartments with a Partner, or evening doing a loan 🤔 with a down.

There are a few self-contained guides that you can access here: https://www.biggerpockets.com/guidesIf you haven’t been to it already, you might want to check out the BP blog: https://www.biggerpockets.com/blog/

You may be able to access capital with a C/O Refi DSCR loan based solely on the income of the rental property and your credit score if your self employed income & rental income cannot qualify you for a conventional loan.

Self managers in Gatlinburg right now should be doing ~50% cash on cash as a starting point.