If you have parking spaces, storage, etc., that you can rent out to professionals or other students, that is a great way to make some cash and get your feet wet with managing and RE.

That being said I have a good job in Med device sales and work for a pretty solid company with good prospects for the foreseeable future so not too concerned about employment for 5 or 6 years and my credit / income / and cash should let me qualify for a property in the 800k - 900k range.

My inherited storage tenants have a 24 month tenure, even raising the prices, they all stuck around post-sale.

Justin, I think a basement is typically most preferred just because there is extra room for storage, or can even be finished into more living space. 

I am closing on a self-storage property in Kansas City, MO here in about two weeks.

I remember him coming up with some concoction that he marinated in an old sour kraut crock in the storage shed we had in the basement. 

Alternative means of purchase; HELOC if possibleNow one thing to consider here that I'd be happy to chat with you about in greater detail if you'd like is alternate ways to have your portion of the land income producing (if this is indeed a 'speculative investment scenario) - RV winter storage - ATV storage - POD storage Basically there are endless ways to have some income coming in IF this property isn't already producing for you and isn't tillable, and I can help you figure that out if you'd like.

Past tenants have used it for storage of art supplies, or to keep reptiles and whiffle board table. 

I've been managing for 11 years and currently have about 400 rentals and 350 storage units.

The house is on well/septic and the storage tank runs out of water every day.