Rare in Texas I think to find a PM that wants to manage anything as rent by the room. 

@Kwanza Price tips for managing contractors:1.

I'm also having issue with no onsite manager, but in regards to insurance. 

I can recommend property management, realtor, vendors, if you need them.

@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.

In order to do this you need to have deal flow and you need to know 1) How to recognize a good, profitable deal, 2) How to put together funds quickly to buy the deal before someone else does and in such a way where you are protected and the deal is protected, 3) How to run the project so that you follow the budget and don't overspend or overbuild, 4) How to attract an end buyer or a renter and which documents to use to protect yourself and the buyer, 5) If you are going to keep the property then you need to know how to set up the property from the start to best help you in the refinance later, and 6) You need to know how you are planning on managing the property from the beginning in order to make sure it will be profitable at the end.

However if you are self managing, that is work. 

@John Zhang If your wife qualifies for Real Estate Professional Status (REPS) and materially participates in managing rental properties, there is no limit on the amount of rental losses, including depreciation, that can offset your W-2 income.

My guess is there are some STR owners or managers genuinely unaware their current pricing exceeds the price gouging thresholds until it is brought to their attention.]Will PriceLabs and other dynamic pricing tools- respond quickly and appropriately to these issues?

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.