Don't let the idea of a low interest rate trap you from upgrading to size/scale.

The newest outdoor is still advertising 1st month free as they haven't filled up, and I spoke with the climate controlled owner/builder yesterday (he's a pretty big REI in the area), and he made it sound like he hadn't leased a single climate controlled unit since they opened a few weeks ago.I recently purchased a 140x45 warehouse with low ceilings and had debated doing self storage, but my market seems very saturated.

In my experience in MO, land bank properties are very low priced (these are generally properties/parcels that weren't sold at the tax auction), but they often have significant tax liens on them that must be cleared in addition to the "sale price" AND they require a significant amount of rehab in order for the properties to be inhabitable. 

You basically have high growth and low cash flow Columbus OR decent growth and solid cash flow of Cleveland, Dayton, and Cincinnati. 

However, you can claim a tax credit on your California return for taxes paid to Oregon, mitigating double taxation.If you only plan to own this one property, consider using umbrella insurance as an alternative to an LLC.

Start with these three key points:Current SituationAssess your current or expected capital and credit within a realistic timeframe.

Not reported on credit.

If it is a credit/equity line, you could provide a lender letter that the funds are available immediately for funding - and cured any recission period. 

If you want to buy your first property ASAP, house hacking (duplex, triplex, or renting extra rooms) is one of the best ways to start with a low down payment while learning property management.

I do see the point @Steve K. and others are making about the annual turnover and low monthly rent being in conflict.