All eggs in one basket - we know that coastal areas get hit by storms, so it worries me to have my vacation rentals in one area, because one storm could wipe them all out.

Some will overlook telling you about the gutter that came loose or not notice their waste basket under the kitchen sink pushed into the drain pipe and there is a slow drip.

The highest ROI comes at 4 beds and up (I used to have all small ones and traded up for bigger ones).And the less sets of roofs, HVACS, plumbing, etc you have to manage, the more efficient your business.The flip side of that is the “eggs in one basket” argument, which is also valid.

I'd put in an orchard with different types of fruit trees, possibly a pool, and one of those large chess boards like what is at Santa Monica Beach, where the board is on the ground, and the chess pieces range anywhere from knee high for a pawn, to chest high for the major pieces.I welcome any advice as I've just started my due diligence period.  

If you aren't part of the social media arm of the local REIA that would be the lowest hanging fruit.

It looks like there is some low hanging fruit in the summer months and opportunities to build business in the winter for someone who is a go-getter and wants to break into some niche markets that come to the area for winter sports.

Two schools of thought on diversification ... the alternate to what you describe being what I call the "Mark Twain" portfolio after the author of the quote "Put all your eggs in one basket, and then watch that basket very closely."

You have to have a great deal to make decent money.PR I believe is working on rolling out east... yes price points in this area.. for the amount of money and work you put into getting deals working against massive competition  same money and time put into just getting listings.. in the long run probably a lot more fruitful. 

One of the things we've noticed is that calling on Commercial Brokers hasn't been that fruitful as 75% of the properties that are showing available aren't anymore.With this being our first self storage facility purchase, I wanted to see what kind of feedback I could get on making this a reality.Thanks in advance.

How wonderful that in the end you are debt-free and can enjoy the fruits of your labor!