Part of the reasons hydrants didn't work was some water storage was already depleted for maintenance. 

Traveling in Malta and now in Florence Italy for new years.  About an 8 hour time difference but our alarm systems are 24/7.  Got an alarm the other night.  Called our local sheriff department.  They called back about...

Or maybe you finally want to purchase a multi-family complex / self-storage facility / car wash, etc.

We do Self Storage. 

However, another factor was that the septic tank was shared with the neighbor and there were no written agreements in place as to who was responsible for expenses.

I've also diversified among real estate asset subclasses (MF, ATMs, self storage, etc.) operators, geographies, strategies (buy and hold, income, buy and watch), and substrategies (core, core+, value add, etc.)You went $1MM or $500K as a first deal with a new operator?

Put a bunch of boxes and crap in that newly converted storage closet. 

The rental is currently cash negative and our thought is by converting the unused storage unit it would bring cash flow into the positive.

I'm sure every municipality will interpret the laws differently.65852.2(D) (iii) The accessory dwelling unit is either attached to, or located within the living area of the within,the proposed or existing primary dwelling or dwelling, including attached garages, storage areas orsimilar uses, or an accessory structure or detached from the proposed or existing primary dwellingand located on the same lot as the proposed or existing primary dwelling

Hi William, investing in a syndication or fund could be a good fit given your situation.Even if there is a crash, and people downsize, those people will have a need for self-storage, as evidenced by storage occupancy rates during past recessions.