“This may be concerning, but based on what we know now our assessment remains that the immediate risk to the American public is low,” said Robert Redfield with the CDC.

You're going to have to get approved by the board, that's very unlikely if you tell them you plan on renting out the unit.You also have to worry about special assessments, which can wipe out months, or even years, of cash flow.

@Christine Smith Prop 13 is a law where property tax assessments can only go up a certain amount each year unless the property was sold. 

I'm considering a cash offer of between $50K-$58K plus closing cost (no agent commissions involved) which is right in line with the tax assessment. 

I agree with @Greg Dickerson in his assessment and, if you're a relative newcomer to commercial real estate, I would encourage you to look into having a detailed discussion with a broker who understands self storage as an asset class (in lieu of one who only sees it as a business).  

I will hold this home for about 5 years and use income to offset expenses, with some profit built in and then assess the market and ME.

I will hold this home for about 5 years and use income to offset expenses, with some profit built in and then assess the market and ME.

Appraisal and tax assessment comes in around 65k.

Hi Jeffrey,Build up to about $25,000 cash in an FDIC account that you can access quickly as a first goal, then re-assess your situation.Make your goal to accumulate that cash as fast as possible to dull the effects of inflation on the initial dollars.Work more than one job and save 100% of your income if you can.Good Luck!

Tenant agreed with my assessment that they had destroyed the carpet and told me to not try to get the carpet cleaned.