Even for retail space, I see businesses in shopping centers with barely 2 parking spots per 1000 sf when the requirement is 4.

-No website; no books; rent roll is a notepad; no signs; no advertising; can barely see it from the road, and still at 90% occupancy.-43 Units and 9,165 sf-Less than 1 Acre-I know that this will not profit very much relative to other storage facilities, but $1000+ in cash flow/month sounds very appealing from that perspective.

In 2020 we are under rent control, but prior to this year this is basically what we did and we will still be doing this within the limits of the rent control.Tenant that for whatever reason is less than ideal and that we really want them to provide us notice, we raise rent to above market for the unit in its current shape (going forward, due to rent control, this will be 5% + local inflation (lately ~4%, but last year ~3%)).Tenant that is good enough that we want to keep them but just barely, we keep them just below market (in our high rent market, $50 below market). 

Cashflow doesn't look good on this property, but there is no depreciation on bare land.

Cashflow doesn't look good on this property, but there is no depreciation on bare land.

Like you said, there is no information available online for tenants, only how landlords can nickel and dime their tenants without spending the bare minimum they should have to in order to individually meter units.Our water and sewer bill has doubled over the course of our tenancy with no documentation.

Yes each had a window and a closet but you could barely walk around the bed and absolutely no room for a dresser.

Contractors, Property Managers, Financial providers, Insurance providers, Real Estate Brokers and list goes on and on, you get my point.I know it is very easy to want to find a deal and purchase something quickly, I see it happen over and over again, people coming from out of state or even people coming from the Tampa, Orlando and Miami areas who start looking in the area, and find deals which "SEEM" like a good deal simply because $140k price tag is low compared to the persons market, and they make the purchase, they end up with a property with barely any equity, and they end up renting it out at a loss, example below:The below is fictional examples and estimates, always do your due diligence before investingPurchase price: $140,000.00Rehab: $15,000.00Closing costs: $4,000.00Holding Costs: $3,000.00Total Purchase price: $162,000.001% of purchase cost: $1620.00 mo.

Bare with me as I find an appropriate picture for my profile as I know it helps!

or at best barely break even once all expenses, vacancy, and capital expense reserves are taken out.