We would do a Self-Storage location with containers subject to zoning.

(You can find the zoning map online.) 

It’s all about finding a balance between purchase price, financing terms, and smart rental management so you’re not forced into the red.

I look for liens that will be removed or that may stay, ownership history, platting, zoning, exit strategies, cost & profit analyses, and above all else; I physically look over the property.

It would be a big red flag to me if they are doing a lot of volume in this market. https://www.biggerpockets.com/member-blogs/10145/83067-limited-partner-s-guide-to-investing-in-the-right-deal

Just make sure you understand laws, zoning and you are eligible for lic.  

I can build a mini storage or whatever as long as the zoning is compliant.

Get out of your comfort zone.

If the insurance is higher, like in a flood zone, or hurricane zone the net will be lower. 

Get out of your comfort zone.