Granted it is more complicated and their are more costs that you must take into account that a traditional strategy will not have, but very much worth if done correctly.Just to have a chance in this market we were bidding on houses $15k to $30k over asking(yes, our numbers did still work out asking over the asking price).

Also, your purchase agreement would get much more complicated, as you tried to carve out all potential liabilities that should be, to the extent possible, allocated to seller and set up a complimentary indemnity mechanism.  

@Shawn AbThis is more complicated than you think.

Insurance claims get complicated where there are simultaneous causes. 

Michigan has some of the most complicated property taxes in the USA.

You'll have less complications in the long run with a loan. 

Find good CPA instead, regardless of where their office is.Second, if your return is pretty complicated a good CPA will keep you out of trouble and find you more ways to save. 

(please don't hesitate to lay into me here.)I personally don't have the capital to build out the storage facility, but have access to capital via hard money, SBA loan (believed) and/or a partnership for the build out (which could complicate things if i own the land, but partner on the build out). 

You are going to WAY overpay for the property itself, and then have a complicated business to run after you close.

Househacking is fairly simple there's no need to over complicate it too much.