Competition for rentals is tough, but kudos on your purchase.

Perhaps some banks have different rules, but I have always encountered loan officers who require rent rolls to have been on the book for 2 years before counting them in the income to debt ratios, so you may not be able to use expected rents.That said, if you are newer to the investment landscape, and this is your first or second rental, you shouldn't have an issue getting a competitive loan on a primary residence and converting your current primary into a rental.

We have seen properties with an adu, do you think those would have less competition from other buyers?

What are you doing to set yourself not just apart from the competition.. that is not good enough.. what are you doing to set yourself ABOVE the competition?

I think the price will be competitive though.thanks.

How competitive are your rates? 

There is not a town in the United States, that does not need more storage, or "you" can't competitively build more storage there. 

To add to @Twana Rasoul point, San Diego has become super competitive , definitely a lot of sharks in the water, since there is a shortage in inventory but tons of prospect buyers.

But, as with any good, the downside is you are going to be paying a premium; there is a lot of in and out of state investment in Lakewood and I've found the market too competitive to cut my teeth on. 

Definitely worth finding out where they are allowed and what restrictions they have, some places are super Airbnb friendly and want tourists and investors, others have hotel owners who’ve been on committees for 100 years who shoot down competition, so they make it hard for airbnb to thrive.