@Huggy Ford, I would be interested in running an analysis of need to know what's in the highest demand for that location.

Your niche depends on location and amenities you offer.

Additionally, in my market, a lot of these properties are located in areas where price-to-rent ratios are extremely favorable.

If you are going to share lease edits  brought on by local landlord tenant legislation updates make sure to include the location but I suspect edits influenced by tenant interaction will be most helpful to those who read these forums. 

We develop/Buy Self Storage locations. 

If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

But it's not that complicated, just buy in good locations and your risk is very low. 

Hi Anthony-You currently live in NJ and are looking for out-of-state locations that are affordable with strong rental potential.I would look at a market like Lansing, MI.

@Augusta Owens here's some copy & paste info you won't find in a book:)-----------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

STR it will cost you big.this isn't a difficult job depending on the fridge location.