When you're self employed it's WAY more difficult to get a loan approved and I think you have to prove income as being self employed for 2 years.

I wouldn't risk it unless you had a very good deal you were considering and felt very confident about it.  

When you are self-employed, they are irrelevant.

We have increased the number of our rental properties from 5 to 8 over the last year using our self-directed IRA.  

Zillow.com is a good source your self research but do not solely depend on Zillow because some numbers are vague but you can find almost everything on that website.

Overall I'm pretty confident that the deal is good but I could use some outside opinions just as food for thought.

The thing you want to be aware of is how the deal is structured with the owner, because they may want you to pay up after a certain amount of time and if your not ready bad things happen.Another way is using your IRA or Self Directed IRA.

Rentals generate passive income that avoids the pesky self-employment (SE) tax.

This is on a self storage property as well and one of the reasons I ask.

There are revocable trusts, irrevocable trusts, self-settled trusts, land trusts, gun trusts, medicaid planning trusts.......the list goes on and on.