Self storage in high income areas of Spain.4.  

Love the time in the market piece because you'll hear so many people who have never bought investment real estate ask why "you're buying when rates are so high" etc. 

Do your due diligence but do not get stuck in analysis paralysis.Lastly, these online calculator are a good guesstimate but it is skewed with bad managers not effectively reaching the potential of a property So dig a little deeper into the high performers in the area to figure out what the rate should be and what they offer.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

This niche area does not have alot of recently sold properties and the ones that have sold are condos in high rises not single family dwellings. 

Small multi-family is in high demand. 

Although it is highly expensive here in San Diego, that doesn't mean there aren't deals.

My recommendation is to choose cities in safe and economically diversified areas with above-average income and population growth.

Just due your due dilligence, make sure you have a team that you trust and no matter what, but in areas that are growing in population and have low crime rates. 

Paying down a mortgage quicker gives advantages if you believe the appreciation outlook is high because the debt pay down will give you more benefits when the property appreciates.