Neighborhoods with stable rental demand, high yieldsand potential local economic growth.Currently I am researching ;Midtown?

You need to know what YOUR market and YOUR buyers are demanding, and offer them that -- or better than that.Most markets are competitive enough these days that the difference between, "Okay, I guess I'll buy it..." and "I HAVE TO HAVE IT!"

.- Also noticed no vacancy, unless if the area is really in high demand you may use a lower figure like 2-3% but typically banks will assume 5% vacancy factor when determining net operating income.

What you will learn in a smaller, less financially-demanding building can be applied to much larger buildings, hopefully, in your future.Having said that, since you are just shopping, why not shop both? 

Depending on the location of the property and the demand for storage in the area, you could effectively rent those garage units out as "storage warehouses."

That's about as low as it'll go for investment, UNLESS you go for a multifamily property and move into part of it.Of course, the size of the loan will put a limit the kinds of properties you can buy - what is your strategy in that regard, and what does the supply and demand look likle in your area?

Because we are new to the game, inventory being low and the demand high- we are having a hard time competing.We have been listening to BiggerPockets podcasts for about 2 months now and we are ready to see where a little active participation can take us.

Delay selling 'til the supply/demand is in better balance; also possible but delays my turning over that money.Anyone have any advice, experience in this situation, or other ideas?

Is there demand for new buildings of the sort you or someone might build there?  

Older houses were also wired for lower total loads than current demands.