Sold 4 of our 8 Selfstorage locations to get in a better defensive position.  

If I were in your position I'd fill it with my own furniture and not overpay for a property.

We are ok with no or even slight negative cashflow since it would be a strong equity position for us if we hold it. 

Offer a great first-stay experience with thoughtful touches like welcome gifts and clear communication to earn those initial positive reviews.For Big Bear’s rules, stay on top of local ordinances—maybe even connect with other hosts for advice.

Possible (but I doubt easy) if seller takes a 2nd / subordinate position to the bank or is secured by other property you own.

Given their age and position in life… mailbox money flow forever sounds like a good start to retirement to me!

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

A couple of positive comments to close with.

HOWEVER, you can still find deals that hit the 1% rule and positive cash flow.

Unfortunately, given current and foreseeable prices and interest rates, I will not be in the position to buy anything else anywhere I’d want to go.