Then, I could refi it in 12 months to take out the vast majority of my purchase money, leaving less cash flow but all profit.I appreciate any input. 

They have already told me that my debt to income ratio is too high even though I can fund the vast majority of the project myself.

There are more revenue opportunities from storage as well and despite all the big companies constructing new sites, the industry is still vastly in the majority of mom n pops and fragmented.

Some people will lie,cheat and steal to do that....they will vastly over exaggerate an issues and blow it up as the end of the world to get you to drop the price.... 

You need to partner with people who will fulfill a specific role.Since you have management skills and vast experience as well as Capital, you bring a lot to the table.

Fair warning, there is a vast difference between mediocre PM's and great PM's.

The vast majority of buildings in the region were constructed before then.

@Deanna McCormickThe vast majority of leases in Texas are Texas Association of Realtor leases or Texas Apartment Assoc leases or are based on their termsThe lease reads Tenant A and Tenant B- both tenants are 100% responsible for the rent during the lease and not 50% eachTenant A and Tenant B both have an undivided interest in the deposit and not 50/50.

Robyn,Sounds really expensive if you compare the vast amount of information you can get for free on BiggerPockets.

I think between the two you are more likely to make a friend who will journey with you into this vast abyss, and hopefully just for the pleasure of your company.