Look at my storage startup checklist 101 postThe parking lot extra land is great.Subject to marketDo a construction loan with a bank who does storage or apartment complexes.

If I were in your shoes, I would buy a place locally and rent out the rooms.  

Change the locks, send her notice of abandonment, and move her stuff to storage for the required period of time. 

Nine years ago he bought a different property that he overnights in, but continued to use the original house for storage of belongings and vehicles.

Nine years ago he bought a different property that he overnights in, but continued to use the original house for storage of belongings and vehicles.

From a cashflow standpoint, it's very difficult to make something happen unless you significantly leverage an under-used property (example: adding a unit in a building in a basement, renting parking/storage space, etc.)) and/or purchase a fairly undesirable property and invest quite a bit to bring it up to snuff.That being said, there's certainly something to be said for living cheaper and getting an opportunity to learn the trade.If you think about it from the standpoint of price per door, owning a small plex (2-3 units) can still be interesting.Example (desirable neighborhoods excluding DT, Verdun, Saint-Henri Plateau and Villeray)2 br condo = +/-350k Cost per door: 350kDuplex = +/- 550k Cost per door: 275kTriplex = +/- 650k Cost per door: 217kBecause the bank will take into account the lease when looking at your ability to pay, you can apply for a larger mortgage with a plex and the cost per door comparatively goes down.

@Matt Gigli Hey man you're a little bit ahead of me at the moment, look I will be the one in your shoes once you've already got your first three properties.

Value add is in other income opportunities such as adding washer/dryers in units and renting out storage garages and covered parking to protect cars from hail.

for a downturn so they can put their cash to use, and they want to justify for not investing as they simultaneously feel some FOMO (like now when equities have bounced back to being scorching hot).Just take a second and pretend you are in opposite shoes, either fully vested or fully divested.

I'm excited to be under contract on our first commercial property and looking for some help.Among other things, this property has 28 storage units.