Thanks Chris - I continued my detective work on this property and found out that the apartments above are a revolving door for this exact reason.

For example, do you require a $200/per door cash flow and 10% cash on cash returns or are you looking at a 5 year ROI that includes appreciation and selling costs?

I am currently living your scenario next door in Summit.

Renting garages is no different from multi family or other commercial ventures in that you own space that you rent out at a rate that exceeds your cost to own and operate.

Small multi family properties 4 units and under. 2 bed 1 bath or 3/2 if availablePurchase price under 225-200k with a minimum of $100 cash flow per door after expenses but a target of above $250 per door after expenses. ( currently we are averaging about $175 per door cash flow) Cash on cash should be above 10% with 15%+ as targetProperties would be managed by local management company. 

I recently received a call from a seller that owns two 6-unit buildings right next door to each other.

Without knowing anything about your market, lets just say you could put 25% down on a $400K property with 10 units, with each unit cashflowing $250 per door per month, that's $30,000 of cashflow per year, halfway to your goal of $60K per year.

I had a slow start but started ramping up my investing in 2017 and since then have purchased three rental properties for a total of 6 additional doors since that time. 

I drove through a D area the other day, doors locked, MP5 cocked and locked, and it appears to me your tenants cars look no different than the ones I saw.

He checks everything though, cabinet hinges, appliances, windows, roof, basement, exterior bricks, door operation, strike plate alignment, everything.