We were a little too comfortable with this income, since the facilities manager we worked with was very loyal to us; we had solved many problems he had fought for years.Anyways, after 5 years with them, we were blindsided when he retired and his replacement told us to stop service.

It originated with the evaluation of mobile home parks and storage facilities. 

One of the many reasons I LOVE investing in assisted living facilities. 

Current rents:25 units 675 1 unit $800 Current monthly income $17,675 Property has laundry facility that averages $700 in additional income.

Over 200 brand new units were recently built in the same area and they not only have a work out facility, but they dropped their rates just trying to fill units. 

Among others, uses permitted by right include single and two-family dwellings, town houses, multi-family dwellings, and community facilities necessary to serve a residential district.Land Use CodeMultiple-family dwellingA structure, located on a single lot, containing three (3) or more dwelling units, each of which is designed for or occupied by one (1) family only, with separate housekeeping and cooking facilities for each.

Once I had in writing that the tenant had abandoned the apartment I paid to have their possessions moved to a storage facility, where is was to be held for 30 days then disposed of.They eventually showed up and asked for their possessions back, which I had to legally provide even though they owed thousands in back rent and unpaid utilities, plus damages.  

Depends on the city and Government regulations, and how many lots, you may have to invest in common utilities/facilities (roads, parking, water, sanitary sewer, fire water requirements, storm sewer, to mention few), making the cost per sqft higher, and that's a chunk of $$. 

For example I’ve probably mentioned the auto repair facility I purchased for $125k and sold 4 months later for $300k at least a dozen times.

Danger areas can be receivables, facility utilization, pending regulatory actions and code compliance.