Thus, based on my experience you tend to overpay for multifamily properties versus SFR's.

Just remember that on investment purchase (conventional) you wont be able to receive gifts to close the purchase so if you're going to buy and you want to bring in friends/family into the deal as a giftor, you'll need to be buying as primary most likely (allows gifts).Also primary residences allow higher LTV's or lower down payments (same difference) 3-5% down versus 20-25% with non owner / investment occupancies.This is to tackle the down payment issue you're experience above.

From there, you ask more detailed questions, like will you provide budget versus actuals on current projects?  

At $1200 monthly rent after the increase, It would still be cheaper by $100 for them to stay versus finding a similar home, but they may not see it that way and I don't want to piss them off or make them leave because a $100 increase could be a shocker. 

This way you do not have to refinance as soon to recoup your initial capital.I mention a 60/40 split because rates usually do not get any better if you put 50% down versus 40% so it might make sense to save a little.

A quick search suggested that the following surveys could be completed in the diligence phase of self storage facility acquisitionBoundary Survey: ALTA/NSPS Land Title Survey: Topographic Survey: Site Planning Survey: Floodplain Survey: As-Built Survey: I'm curious which of these are necessary versus nice to have

That should be enough to get Airbnb going again, then if you want to sell it - sell it to a proper investor (versus those pulling out and wasting time, i.e. many wholesalers) as a permitted and functioning Airbnb.

While a single deal might only be a 'base hit' versus a 'home run', it could set you up for something bigger and of course, each deal you do, you gain experience as well which will benefit you in so many ways.  

Do you have any statistics for me on what the likelyhood is for a USDA loan to be called versus any other agency?

Note I am probably in the highest 5% (possibly highest 1%) of bp users of debt versus income.