These institutional Landlords will be in competition with Mom "n Pops Landlords too.

These tend to be mom-and-pop owners who might be open to an offer on their property.

The opportunity to buy mobile home parks and self storage from mom and pop operators provides significant, sometimes staggering upside.  

A couple of mine went way over when things kept popping up.

You have more than enough Market, in a 800,000 Pop city.5Outside or climate controlled?

Looking for a good cash flow market, but also overall city dynamics in terms of pop growth, job growth, good infrastructure, good QOL, reasonable crime, etc.

@Mark McCollum did you see this one pop up in the Bigger Pockets marketplace? 

There seem to be some new businesses popping up in downtown Springfield like Strings Brewery and I know there were plans for other restaurants and bars before COVID started, which is always a good sign.

And it could be as high as say 9% for a mom-and-pop seller in a distressed situation for example. 

So what happens as population levels go down more of the national to regional tenants exit for greener pastures and then you are left with mom and pop tenants who can pay much less rent per sq ft to make the business viable and profitable.