Storage units and leases for sfd

[Tami R.]

Couple questions:
1. On our single family homes - we do month-to-month lease. I originally did this to make sure if we wanted to get rid of a tenant we could by saying the lease will expire at the end of the month. The more I talk to LL they say you have to do a year lease- thoughts? We have 15 properties (all within the last 3 years) and had one bad tenant - I think that is pretty good.

2. Storage unit.
We can purchase a storage unit (50 total units)
Purchase $150k
Gross yearly rev $25k-$27k
Expenses $7k-$8k (does not include mortgage)
That would be another $11,500 year
So total annual expense would be at $19,500
Thoughts?
They have a waiting list for the units.