I want to remain local in NJ or at most drive down 1hr to PA (self-manage or, last resort, hire a PM)However, I must also consider maintaining reserves, a safety net for my primary home, and an emergency fund.It's just hard for a new investor now :(

Start small, build a reserve fund, and work with local experts to ensure your first investment is a solid one.Good luck!

Yup and its a joke when you have these proclamations from those running for pres that they are going to magically accelerate construction.. they can do it if they want to pay 100% of it.. but if they expect the private sector that has to work through local zoning etc.. that aint happening and you cant force people to sell the land cheaper than they think its worth or can get on the open market just because we need starter housing.

@Luke Spencer I am not on the management side but I can tell you it took 2+ years to fill 300 units at one of our facilities and the other just hit 300 units in 12/13 months so it really depends on the demographics, and local housing market trend, the more people moving in and out the higher the demand for storage.I think if you're looking at a saturated market then the upfront cash to turn the warehouse into self storage is not a good idea but then again, maybe those operators are on back roads ( low visibility ) and don't push google ads well.

You can contact some local property managers and get a better idea of the rental market.

Consult your local CPA to calculate accurately and minimize your tax liability.

When Helene/Milton hit we had local displacements and I suspended any rising rates (rising naturally due to spike to demand). 

Contact a local closing attorney as they may have one for you to use. 

Going to start by checking into local REÍ meetups and talking to some friends and family that are doing what I’d like to.

I've signed up to my local GaREIA 2 weeks ago and already started networking there.