@Kevin SobiloSo how do you determine if it’s worth going and bidding on the property?

I'd recommend $1M in limits if they offer it.As for the deductible, I would run through some claim scenarios with your agent to determine some hypothetical out of pocket costs for different types of claims.Good luck with it.

These can sound simple but are great foundational metrics that help determine the momentum of a market. 

I've been told by a few more experienced people that a commercial lender would typically use a cap rate of around 8% to determine the value, in which case we'd be able to pull all of our money out and still have strong cash flow. 

Run the numbers again and determine if this is still a good investment based on the updated info. 

I called every lender in my county and asked questions so as to determine what their "appetite" for lending was. 

These would simply be to determine your taxable gain.You will however have depreciation recapture taxes due, for the period it was a rental, whether you claimed it or not. 

What determines your residency? 

Whats a couple good methods to determine local storage unit vacancy rates to analyze the need for more units in a market?

Can normally determine that pretty easy but taking action on it is much harder haha especially when looking at a nice car over an investment etc.