A newly acquired building has storage units for each apartment unit in the basement. (12 units)  There is little to no mention of these spaces in existing rental agreements (from prior owner).

I am branching out from single family investing into the large multifamily space in the Austin- San Antonio, TX MSA's area.

Perhaps if you buy a multi with a smaller and a bigger unit mix, you can first occupy the small unit, then move to the bigger unit if you need more space, then ultimately move outward and upward when the time is right.

I would recommend my real estate agent as he is an investor too and knows his space.

 I think there's definitely validity to this strategy as companies reduce their lease spaces in the coming years.

The questions so far:Re: zoning - Do we run into floor space ratio issues if/when the basement is converted to finished space, even though there will still only be two or three units total in the building?

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There is a bunch of waste space on the side of the lot that would be perfect for a new property.

They often feel entitled to the space due to length of tenancy and can be very, very hard to manage.

It starts with educating yourself on the market and the space and developing the proper skillset.