Check their occupancy, nightly rate and amenities.

As @Jonathan Greene mentioned this is kind of a dated strategy in the new price/interest rate environment.

There was quite a bit of unused land and the zoning gave me some flexibility if I wanted to expand various aspects of the property.Also the self storage units were all below market rent and the seller was willing to finance at a decent rate with a 5 year balloon.

For all methods you would want to find a market that has strong employment rates, strong income rates for the market, and is a growing or an established market. 

Plus, there are upfront costs to consider, like furnishing your condo and any expenses tied to managing it as a rental.As for refinancing, it might not be the right time with interest rates where they are.

It's important to know what market rents are for what you are analyzing, many properties are super under rented and you have to get them to market rates. 

The reason I ask is because most deals I see on Crexi or Loopnet or anywhere else create negative cash flow under 7 or even 10 year terms with 7% - 8% interest rate.

The northland MAREI meeting and the main monthly meeting at MAREI have a minimal fee, or for $99 a year you can attend all of them for no extra charge - northland is in person, the main meeting is still online, both are great ways to connect and learn. 

This dragged the process out even longer, making it both exhausting and expensive—I’ve already spent nearly $10,000 in legal fees.

The property was rented and generated $160 cash flow after mortgage, taxes, insurance and property management fees were paid.