I looked at constructing a mini-storage near you.  

Basement is dead space/storage.

Call me crazy, but cash flow investing should be based on cash flow IMO.If it were me I'd look at less competitive markets or less competitive property types (self storage, etc). 

Any advice is greatly appreciated.David,Here's what I do for my multi-family buyers:Yes it is hard to estimate for maintenance because of a lot of variablesBut I know its expense is less for more units, for things like 16+ unit buildings, onsite maintenance room for storage materials, onsite employees use less hours to do work ordersSome entities even volunteer their residents to pick up grounds, hence minimizing your maintenance costsIf hdsupply.com accepts your account they specialize in multi-family buildings and you don't have to use man power for delivery or pickups And yes, you can do analysis paralysis but it might help you the bank's formula DCRThe 1031 buyers look at expenses differently Yes there's a number per door, e.g. if the units have been neglected you will spend at least one month's rent in turn ready unit expense    An organized well lubricated team should turn ready units in 2-3 daysPay close attention to the human factor, i.e. low self-esteem employees who will take longer to turn ready units or do work orders with poorly workmanship, theft, etc In capital expenses, concentrate in a few and more expensive to start with, AC, plumbing, electrical

Looking at a 19 unit self storage facility here in town.

Hi,I have begun the process of applying to banks for a business loan on a storage unit property.  

I have done a few transactions like that personally in both the residential space but primarily in the self storage space.

@Wayne,That would only be true if the system is continuously circulating from the hot water storage tank.  

I am particularly interested in acquiring self storage facilities in the state of Florida.  

Change to another use, i.e. self storage, vehicle storage, boat and RV storage, etc.