For some tenants, if you supplied them a rental that didn't have any leaks in the roof, they would be improving their situation.When we acquire a property with tenants already in place, we make a list of things we want to improve and then chip away at those over time.

On the days I don’t have much going on I feel excited to buy real estate, but the next day might be packed with work and I don’t have the brain space to think about acquiring property.

On top of this I want to make sure I have plan in place to acquire new property,using the cash out money, that also will cash flow. 

If you have a strategy to acquire direct from seller then you might be able to make it work but otherwise you would have better luck in OH.

Quite the contrary:  Cancellation policies are very clear cut and in fact are legally binding.While I am emphathetic to the guests, I am not Robin Hood:  I cannot arbitrarily decide to take money from my clients and distribute it to guests out of charity.

Kris and others, I'm curious to see how you think the current hysteria will affect the opportunity to acquire mom-and-pop owned self-storage? 

In very rare cases, it is worth the additional investment in order to acquire a property if it is in a highly appreciating market with year-over-year rental price increases.

The half dozen big time individual investors that I know in Los Angeles, also, own large management companies that can profit off of excess capacity by managing other owners(especially institutional owners) assets.I would not be surprised if most management companies also owned or were actively trying to acquire assets, too.But, if you are an insurance company or pension trust administrator, you would probably not want to be managing the day to day operations of multi-family even if it makes a great addition to the trust portfolio.It depends of the specific scenario of the owner/s

The upside of this strategy is you can acquire properties much faster, with less money out of pocket, a shorter break-even point in which you actually start making money on the property (keep in mind, if you put 20% down, you don't actually make any money until you've recouped your 20%, and all closing cost), for some people this could be many many years when you're cash flowing at $150-$300 per month, unless you do a BRRR property to recoup your cash you put into the deal to start profiting faster. 

@Florence CrosbyIt depends.If you have cash to purchase the LLC and don't need to borrow against it for a while, I think it's a great way to acquire the assets of the LLC.