I suspect there will me more stories on BP over the coming months of tenants leaving swiftly as the economy struggles and jobs are slow to return.  

You've already increased your credibility and reputation here on BiggerPockets, because you: listened to helpful advice; and,took swift and meaningful action.I actually recommend folks start out by building their own spreadsheet, so they intimately understand the complete ins and outs of all the numbers.

All I've got to say here is that you're going to be one happy, wealthy man 7-10 years from now if you keep making small adjustments to this already magnificent mindset & approach.Lovable & welcoming guy running a growing family self-storage business?

Move swiftly to evict and run it like a business.  

Portfolio loans enable borrowing against equity in multiple properties, while hard money loans provide swift cash access, though they can be pricey.

That's changing quite swiftly.

To name a few: rent to section 8 and the rent is almost guaranteed, purchase B+ properties - tenants tend to stay longer, have pride of ownership, and pay rent, and, lastly, have a good property manager that can navigate swiftly with the tenants to prevent turnovers, evictions, etc.Whatever you choose, good luck! 

Then the developments happened and the past few years I sold most for 10x what I had in them. sold my last house , my home, in march '23 and left the U.S. for good in April, so, I can travel.Didn't want to pay Swift 3-5 percent to move my money to Europe, so, I transfered most into BTC (bought between 17 and 22k.

Then the key is that :1) you do active participation and not passive investment (eg: flip, rehab to rent and so on)2) leverage, but here is the key to do able to leverage there's time constrain, that time constrain is spread between notes/Fed Rate with cap rate ; that "window" create sizeable future appreciation of property.3) buy in good location, for example, buy only in DOM market where DOM is less than 5.by doing these three combined then we can always beat the stock market index.This is why if we're using statistical average as passive investment,stock market would better perform than real estate.But when we're the developer or active owners, then we could beat the stock market index. ...Also what's funny about stock market index is that the index is being helped by the top 4% that produces return (in today's example is the magnificent 7), as the number of top 4% keeps changing every decade or so, it creates a phenomenon as well that the best passive investment is always stock market index.

That is just my opinion to seek to understand, offer some level of flexibility, and then if there is a pattern of late rent or missed rent swift action should be taken, but it all starts with communication with the tenant.