Are you sure you are able to get that rate in todays climate?

We are converting it to 45,000 Net Rentable Square Feet of climate controlled self storage.

By the time the loan got to closing, the DSCR evaluated wasDSCR = $950 (lower of the 1007 value/leased value)/($750+$100+$50) = 1.055 --------- (2) The difference in rate pricing between (1) and (2) was a cool 75 bps or 0.75% interest rate which in the current climate can completely kill cash flows. 

Gonzalez correct me if I’m wrong, but I thought they agreed to do SuperBowls only in warm weather climates because the year they did it in NY they lost a lot  of revenue due to it being so cold for the outdoor attractions.

Climate is good, airport is one of the top airports in the country, and Florida is booming! 

I selected North Carolina due to its landlord-tenant laws, property taxes, income taxes, insurance rates, proximity, climate, cash flow, and my pleasant personal experiences there :)I have NOT yet researched STR laws there or city specific / non-owner occupied property taxes.

@Joel OwensI think there have always been concerns here in regards of the litigious climate, the buy in cost and tenant rights.

San Diego has arguably the best climate in the continental United States and that is not changing any time soon.

I advocate virtual wholesaling somewhere you can easily pick up on building codes, climate, timezone and culture.

I've always wanted to get into hardwoods and even considered it for the 30 acre parcel I've got, but I'm not investing on that sort of timeline yet and this climate is also more suited to lesser known hardwoods without the same value as exotic hardwoods so I figure the return wouldn't be there versus a more hands-on development strategy especially when I've never tried to setup and manage hardwood land myself.