My experience - lending on multifamily, mixed use, office, industrial, retail, self storage and other  properties having $5million- $500 million values. 

There may be a loan on the car and, just like equity in real property, you may acquire title by way of storage fees and lien sale, however it may also mean that the loan remains.

Rules of the condos that may restrict renting, pets, outside changes to the unit including dish tv antennas, propane tanks, trash cans, etc.2. 

But you will need to adjust your NOI downward along with the price to reflect higher vacancy, higher repair costs while the tenants are living in the house (because they live hard and don't have any extra money to pay for the things they break so you end up footing the bill or kicking them out), higher turnover costs due to the previously mentioned lifestyles, and certain vandalism that will occur which includes, but is not limited to, stripped pipes, stolen hvac, stolen hot water tank, stolen wires, stolen kitchen sink, etc.

Another trick I have used on old toilets is to put bricks or bottles full of water into the toilet tank. 

Asking price is $32,900 i'm going to start at $22KMorgtage w/ escrow and maintennce $100 est per month - 430Down payment $5,000 @ $25K PPAnnual rent @ 93% occupancy - $12,834Annual expenses @ $7662COC return 1.5%Deal#22 bed 1 bath 800 sq ft house in a C- area Asking price is $19900 and motived sellers - going to start $8800Mortgage with exrow and $100 maintennce per month - 370Annual rent @ 500$ per month $5580Annual expenes @ 4458COC return 56% Built in 1930Deal#33 bed 1 bath in an A area Septic tank might need relplacing (REO property) Roof and furnace is shotHUBZU propertyAsking price is $50K (been on the market 1.5 years) and will try to get for high $20's.

I feel like I will lose less clients than I would if I were buying an apartment complex because it is a storage unit.

Honestly I would be willing to temp them indefinitely if you have the storage.

Just seeing the cost of huge storage structures made of steel made me curious. 

Cap rates are also different as being acceptable by an investor of larger multi family as opposed to smaller 5-10 types primarily from effects of early depreciation.As to specialty areas,  I haven't seen Joel's concern as to multi family as much in business and RE, office-warehouse, warehouse, storage facilities, general office are not difficult, I'd rather see an appraiser admit they don't do agriculture, industrial, hotel-motel-hospitality appraisals than attempt to and screw it up costing a few grand.