But I have been looking into splitting the duplex into two condos (yes I know it is a lot of work) and I could probably get 325-350k for each, netting me 650-700k.Number:* Mortgage interest 2.5%* Mortgage principle 240k* PITI $2100/month* Rent 2200/month (current tenant on a two year lease)* Potential rent on my side $2400/month * 100k HELOC at 11% (fixed) (not currently being used)* est additional cost to split the dueplex 75-100k (conservative, probably less)     *new siding 30k (just put on a new roof this year)     *legal 10-15k     *fire proofing 15k     * 15-40k for stuff I am not aware of or underestimated on* some of the appreciation is external from the home     *big grocery store put in 3min away     * newly paved road in front of my house     *a building that was falling down across the street has been torn down          * Still a vacant lot with the foundation exposed and fencing around it (so more local improvements are on the way)Part of me wants to take the money and run but man I love that 2.5% interest rate and the $2000/month cash flow (including taxes and capx)I have thought about 1031 exchanging into more rentals, but I would like to pivot into storage units.

Out of town.  Customer calls at 8:30 pm.  His unit door is off its track.  Wants to get his corvette out for the weekend to drive.  He is pissed off.  Someone tried to break into his unit he thinks.  Got to the hotel ...

Frank the TANK!!!

If economy tanks, recession, depression, people can't afford squat, RENTS GO UP. because the demand for the supply will be insane.    

Things such as hot water tanks, carpets had to be replaced in a few years, so I wound up depreciation some items more than once.I sold a rental last year for $430K that originally cost me $70K as an investment property.

Let the tenants use curtains that are cheap and easy, plus it allows them to determine the color/decor.Tear out the sink and replace with a vanity that has more storage and an updated look.Unless this is a B or better property, I would probably leave the current mirror/vanity.

You don't want to start a relationship to learn about storage units and then find out they only invest in single-family homes.3.

I’ve also thought about self storage and in many places in the country you can get into a facility for $250K.

These loans are more expensive and have high interest rates most of the time.If you are purchasing a commercial property (5 units +, storage units, and so on) then you need commercial financing (above options are geared towards residential).

If you don't allow them to stay, they will likely need to go to a long term stay hotel or something else similarly expensive PLUS pay for storage for their belongings, PLUS pay to move their belongings twice rather than once.