If I were investing in eastern WA, or where my extended family lives in Pennsylvania, those 100k houses in good condition are a real thing there.  

Any general advice is much appreciated.You should house hack to start.

@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.

We just fixed up the house and have it on zillow with several applications in 24 hours. 

A lot of our housing stock here has finished basements or in-law suites, so with something like that you can generate significant rental income for an inexpensive conversion. 

The sellers says it's just college boys and that's to be expected.He's currently getting good rents...as unbelievable as it may seem and if cleaned/fixed up it could make more as well as increase the value of the property.We own several coworking/coliving properties in the US and Mexico, so we are used to hospitality and properties out of state.However, my questions are;Is this a norm for college students, or student housing? 

Hey @Jonathan Baptiste, so we are a bit different than some.We have a large house that can sleep 12 comfortably and we provide a lot of stuff.

We plan to stay in this house for more than 5 years unless another great opportunity arises, but maybe it is best to allocate a bigger portion of savings to our real estate investment savings account than our home improvement savings account for the first few years.

I've also seen a lot of BRRRR opportunities and house hacking opportunities in the Shoals area.

Take your time and don't let FOMO distract you from your long term goals. 20 years from now, it won't matter whether you bought a house this year or next.