Due to the low new development over the last 7 years and the influx of people relocating into the SGF market, inventory is incredibly low across the board. 

So, we certainly feel comfortable w/this approach w/safe leverage > 1.3 DSCR - Debt Service Coverage Ratio; 1.0 is B/E; 1.2 is min for bank loan; higher the better). . 

Those are questions I would ask if you approached me with this deal.

He says his price might approach $200/sq. ft. for higher end homes.

My approach is to stick to my numbers and be patient, I have a long-term perspective, and can wait until we crest the peak of this real estate cycle.You can choose to work with an agent that will write bids for you based on local knowledge and your criteria as soon as they are listed.

I'm working on getting BRRRR deals up and going, and if I could find some type of portfolio lender in my area, that would be incredible!

I prefer the more direct and swifter approach.

There is no wrong path, but it sounds like flipping is the better approach, in my opinion.

Your best approach may be to go in with a cash offer to be able to close quicker.

Self storage is an incredible industry and in my opinion the returns seem to be favorable to multifamily at this point in the cycle.