OK then your borrowing the funds to then loan to another.. that's what I did with my big credit facilities in the day and we made the delta. 

Or you can go directly to the author, Joe Massey at Castle and Cooke Mortgage

Same reason people go to restaurants vs cook at home.

My parents own several large storage facilities and they have hosted auctions but it's a last resort.

This happens every cycle and It holds true for equities as well. this is when you switch to being a lender at far less than ARV.... if the deal is skinny its skinny to the flipper not you. back in 02 ish as I had a nice run at court house steps in the PDX metro area.. the last auction I attended was in Wash. co.. minimum bid was 80k on a Aloha 160k rancher..  35 individual bidders qualified so that was 35 people with say at least 100k in cashiers checks all crowded into the little foyee there.. so 3.5 million in CASH chasing one deal that ended up bidding up to maybe a 10k profit .I walked over to my bank and told my banker I am going to start a HML company so be prepared to change all my LOC's to a lending facility.. let everyone else bang their head against the wall we will just provide the capital   LOL.. well that worked great until it did not in 08.. but you know what I mean.. sometimes being the bank is far more profitable than being the flipper..  

The property taxes on this building seem far to low for what properties typically pay in Cook County. 

One smaller note, Cook County just reassessed taxes and it's a pretty big bump (at least on my properties before I go to appeal). 

This type of tenant rarely calls the police on a landlord, and the police have better things to do.Providing a basic, sanitary, safe roof over their head, with heat, and a place to cook for a reasonable price, is not being a slumlord.  

I wanted to find out from self storage facility investors about the current market.How is it currently?

Door Hangers work my Dad did this in the 60s and 70s he bought his own printing press and guess who ran it after school.then he would go down to the salivation army Sat morn at 6 am and pick up those exiting the facility.. these guys would put out about 500 flyers a day for 20 bucks.. you could do it with highschool kids today. he put out 20,000 a week.. and then the 1% rule followed  200 leads  then 20 sales..