Florida has some good STR areas though, It's worth investigating as @Jaron Walling said.

Hi all, I'm investigating the possibility of converting a former big box store to self storage and I'm wondering if there are any basic rules of thumb to determine how much of a buildings space can be converted to storage vs the space used for reception areas utilities, hallways, etc.

The last thing you want to do is get sued or investigated by the SEC for selling securities to non accredited investors and be banned from raising money ever again. 

I wound up not purchasing the property for which I was investigation a 203k loan, so I never completed the process with them - I got through 90% of the 203k hoops, but bailed before closing due to some undisclosed issues, like the duplex being condemned with demolition scheduled for a few weeks out. 

With the last 10 years as a Retail Investigator and catching fraudsters and thieves, Im looking to expand my earning ceiling and going into Real Estate.

I am waiting to hear back from the agent to see able a showing to investigate more, and see if anything was left out of the photos.

and if they approve the claim then do an investigation and find out that it was a STR they will make you repay the monies that they the insurance carrier paid out in the claims process. you should definitely get a policy that covers short term rentals. 

After doing a couple dozen houses, you'll start to get an idea of what it takes for a property to work or not, and you can "eyeball" a property and tell right away whether it's worth investigating further.

@Gerard AlibertiHey Gerard, I was in the single family investor space for 5 years and I never purchased anything that would produce less than $300.00 per month per house but still found it difficult to scale due to repairs, upkeep, make ready"s every time we lost a tenant and had to prepare for a new one, so I started investigating the multifamily space and the syndication process.

@Joshua Janus - Yes that is an option that I am investigating right now since I would prefer to diversify and find the best use for the 100K while also paying it down with the cash flow.