My investors and I happily gave up any cash flow we could have obtained from some sort of variable rate bridge interest only debt in exchange for the safety and security of a long term fixed rate - no prepay either.

Basically trying to sort out some of my thoughts and searching for input from experienced individuals.

If T-12, then you can't apply vacancy into that, since it is sort of baked in.  

It does not look like there will be any sort of city wide mandate against STR under 30 days any time soon.

As a newbie to the self storage arena, I've been focusing on 50,000 sqft and under - some sort of value add (expansion, improved online platform, insurance, etc.) - priced under $1mm - drive up possibly with some parking - stable or growing population - limited chance of increased competition - good visibility - etc.

This sort of partnership may make a good setup to get into REI strategies that are out of range of your current capital.

HVAC is sort of a must have, but it's not generally a value add unless you are going from say window units to central AC.

Would like to connect with other investors to create a networking of some sort.

What I like about them is that they are very active by email (who has time for calls lol) and that the firm has several lawyers in office available to answer all sorts of questions real estate related. 

Oh, whose bank account makes the mortgage payments (yes, it’s sort of a trick question...)?