Bought Under Value- Storage of capital for the time being What was the outcome?

Bought Under Value- Storage of capital for the time being What was the outcome?

I have a basement that my tenant uses as storage.

Hoping to gain some insight on how to go about estimating the potential construction cost of a self storage building from a 10k ft view. 

Hi Chad,Will it be more likely that the renter profile will match the above unit renters with nurses or with a long term renter.What I mean is will the existing renter and the new renter be a good match to live in the same general area.Getting calls all hours of the night saying upstairs is having endless parties, or downstairs is always blocking the drive means a PITB situation for your voicemail.Or you could just go on a pure best cash scenario, but you have to be realistic, if upstairs moves out...there goes a big chunk of the cash too.Good Luck!

If there are things of value, pack them up and place them in storage.

Small business owners that use Schedule C to report their income and expenses as well as partners receiving a K-1, farmers filing a Schedule F and employees who aren’t provided a place to work by their employersPer IRS publication 587, To qualify to deduct expenses for business use of your home, you must use part of your home: Exclusively and regularly as your principal place of business; Exclusively and regularly as a place where you meet or deal with patients, clients, or customers in the normal course of your trade or business; In the case of a separate structure which is not attached to your home, in connection with your trade or business; On a regular basis for certain storage use; For rental use (see Pub. 527); or As a daycare facility.What are the allowable deductions?

I had to rent storage units for all my stuff which is now costing me almost $1k a month!

We have a $50k purchase agreement on an empty warehouse that would be a great indoor storage unit property.

It will eventually be converted to a duplex or possibly a climate-controlled storage unit.