The agent was very clear in the loopnet listing that the property has been mothballed since Jan 2014 (almost 2 years) and is in need of significant rehab.For a property like this the question becomes  can the local market rental rates justify the purchase and rehab investment at a return you are satisfied with; a reverse engineering approach.With out even visiting, my quick assessment was that this was a $500-$600K ($200Kish purchase + $300Kish rehab + $100Kish contingency) project and that the local market rental rates would NOT give me the returns I want for the risk.

I'm working with a partner who has terrible credit but their income is good since he's a police officer and engineer for the marines and that didn't satisfy them either.

Now that you've taken the pressure off the seller and they are no longer "in heat" you may have difficulty getting further cooperation since you did not think thus through fully and engineer this prior to spending the money.Now their problem is YOUR problem.

He stated if the buyer had concerns, he should consult an engineer.

So I wanted to see what kind of construction cost,land acquisition, permitting and engineering costs you're seeing.

Hello,I have recently completed my civil engineering from one of premier colleges in India.I am currently working in company specializing in commercial and residential real estate in India.

Is there anything else you would suggest to a person in my position with no experience in the way of storage but with a lot of construction experience (being an engineer) and verbal commitments from other silent investors interested in investing in something of this size with me.

The past month or so, I have started educating myself as much as I can by listening to the podcasts, reading, and speaking with agents who are involved with investing.I'm currently working a full time job as an engineer, and would like to start to get involved with real estate part time.  

Welcome Mark Walker - I've sold engineering software to Seagate, I'm a MF broker and investor.

The reason the estimates are so off on Zillow comes down to a matter of data completeness, and the algorithms used to select the right combinations of proximity, date sold, features, financing method, etc.