Quote from @Jonathan Vinas: Quote from @Ashish Acharya: @Jonathan Vinas Operating a self-managed STR in North NJ or the Catskills is feasible with careful planning.

I will be more then happy to share my experience since purchasing the property in 2019.Anyone here currently investing in areas outside of SFH/Multi's such as mixed-use & storage b facilities?

Seller used one of the units for storage.

How long have you been investing in storage?

On paper they were amazing deals, in reality they sucked so badly I went into self storage instead.

In my state i have no such requirement on security deposits but i question the feasibility of doing this as well as how will anyone know as long as you have the means to pay the tenant their deposit when they move out. most banks charge for low balance accounts.  

Can I charge them fees & rent for storage of their crap? 

I’ve focused mainly on Florida but have also looked at options in Sacramento and other slightly more remote locations in CA.While I’m familiar with value-add strategies (ADUs, renovations or storage rentals), these seem like heavy lifts for modest gains.

Given they are going to damage the walls while moving anyway it eliminates their need to touch up the halls and I can usually schedule to have one painter knock out multiple units in a day but even if its a one off sale, it comes across as good service for a small amount of money.In a storage area within the house or garage I will leave an unopened box of each tile, and flooring used in the house along with unopened 1 gallon buckets of the wall and semi gloss paints and one of each door hardware (kitchen and interior doorway.

I just submitted a conceptual plan to the City and they agreed to do a feasibility analysis to see if SB-9 will work for my parcel.