1) It's not unreasonable to end a tightening cycle with a larger rather than smaller drop.

I'm sure in larger markets that is different though. 2.

Is this outdoor storage for larger equipment?

It’s a familiar debate, as Californians have faced this choice twice since 2018.Under the 2019 Tenant Protection Act, rent hikes have been capped at 10% per year or lower if inflation rates dictate.

It seems like there are a lot of choices out there so I am looking for anything that can help me navigate making a decision. 

You can run multiple small deals at once, or run 1-2 larger deals at the same time.

So, average cash flow is a product of the choices you make and the capital you have to deploy, as well as your lendability.I think what @Alecia Loveless wrote should be very helpful to you in terms of judging the money coming in, but it all depends on your location and investments.

I have been pondering for years on how & where to start and have decided to connect on a larger scale to gain knowledge & guidance to get started.

The choice depends on your threshold of what hassle you are willing to put up with vs what expense is worth it to avoid the hassle. 

Water damage never happens in small amounts, until its noticed and by that point it's typically a larger job than $1200.