Their previous lease includes a portion of storage in the basement with laundry access(also in basement).Current set up: tenant occupies floor #2 with separate access to the basement for their laundry and storage.Future plan: reno basement and remove storage/laundry access for tenant.

Long story short if you are committed to house hacking the sky is the limits and there is endless possibility, it really comes down to your comfort level and where exactly you need to be in New Jersey.

Does NOT mean you will NOT cashflow right away but most of the time in San Diego you are buying to ADD value, raise rents and finding other opportunities to raise your cashflow like; add AC, laundry, storage, etc. 

About biggest "drama" I had seen is when there was a pitch for "what about mini-storage", which we discussed for some time, I equipped them with all the realities of it, we developed a few real world potential, really fleshed it out, "board" meet, reviewed, and decision was made of why chase shinny things when on a good proven known path.

PS I like Iowa just started there myself in 24 providing capital to local flippers and landlords .. doing what I preach lending money .. although I did buy a storage unit. 

Since this will be a lengthy process I will attwmpt to fill these units up with short term office tenants, or anyone that is looking for storage space. 

For example, not having on-site storage can cause a lot of logistical and financial issues.

Multifamily is the most common one, but some groups also do self-storage facilities, student housing, commercial properties, and others.3. 

Just as speculation do you think there will be a demand for smaller scale data centers as AI sucks up more and more of the available storage?

The ones I manage total to 20 bedrooms.These rooms rent for between $125 to $225 per week depending on room size and amenities in the room (beyond basic amenities may include: Desk, Tv, private entry, tenant controlled AC, additional storage).This month after padsplit takes their 14.25% cut of the revenue I am recieving, from the units I own, $15,230 from 3 homes.