We approached them a year into a five year owner financing and asked them if they were considering cashing us out as well.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

I want to reach out and get feedback on where I would be able to find off market self storage facilities and how to approach the owner?

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

I would restate that the lease will remain in place until such time that a new tenant is selected and moves into the property.This approach will ensure your cash flow while acknowledging that 'stuff happens.' 

I would suggest approaching the borrower on an accelerated pay out with an incentive.

Hi Christopher,Now that you are approaching one year with your Dallas property, have you gotten updates on new insurance / property tax rates.I had a similar experience with my place down in Ark.

At the price point you qualify for, I'd be looking at a more landlord friendly state with more approachable price points.

Here’s how I approach niching down to a specific audience:Analyze Your Market DemographicsStart by researching your market to identify who is booking short-term rentals in your area.