If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.

If there is a tenant in the property expect that they will likely leave within 6-12 months after you purchase so you can expect to do a rent turn and budget for that.

For active investments I advocate considering how you can diversify WITHOUT ceding your competitive advantage nor the superior profitability of the niche your in.As an example my business is running an investment fund and syndication high interest commercial mortgage loans secured by income producing real estate. 

Have you considered Turn-Key LTR? 

A $240k loan amount on a $249k purchase price seems crazy and I'd never expect to produce any net positive cash flow doing this.How are you calculating your property taxes?

I’ve seen cases where multiple tenants in a household had prior evictions from different addresses, taking turns as the primary leaseholder to avoid detection.

I’d love to connect & discuss my goals further, especially since you specialize in long-term, turn-key properties, which are exactly what I will be focusing on as an investor.I’ll definitely check out the podcast you shared to learn more about turn-key investments.

I'm investing mainly for cash flow and the ability to have a home base when we come visit and possibly will turn into longer term stays in Japan in the future.

@Luke Spencer I am not on the management side but I can tell you it took 2+ years to fill 300 units at one of our facilities and the other just hit 300 units in 12/13 months so it really depends on the demographics, and local housing market trend, the more people moving in and out the higher the demand for storage.I think if you're looking at a saturated market then the upfront cash to turn the warehouse into self storage is not a good idea but then again, maybe those operators are on back roads ( low visibility ) and don't push google ads well.

Our clients have used 1031 exchanges very effectively when they have a property that turns out to not be the right fit for them.