I am working through a PSA for the purchase of a self storage property and I would like to know what surveys you would say area) criticalb) nice to havec) unnecessarywhen acquiring a self storage facility especially given standard exceptions in title policies.

We are members of the STR Secrets mastermind and it's not for arbitrage but co-hosting and purchasing your own STR.

You will then have a few options with that rent money....you can put it into principal or you can start saving it to purchase yet another property.

Agreed, I had this exact conversation with another investor today when they brought up the lower purchase prices in small-town Minnesota.

Purchase price: $165,000 Single family condo that I purchased using my VA loan What made you interested in investing in this type of deal?

In the area where I am trying to purchase, Duplex properties are around 450k-550k (and still need about 30k-50k in rehab) or around 600k (90% turnkey).

Assumed purchase price at asking, got the rent roll from the listing agent, currently rented 0% vacancy, and made some assumptions on taxes, owner paid utilities, etc.

I have plenty of clients who 'make' enough and would have no trouble qualifying, but there is a benefit to keeping liability off of yourself and funneling your debt, et al. through the asset itself.Plus, if you keep it at 1-4 units, most DSCR lenders would still qualify that as "single-family" so you would still be eligible for 80% leverage on purchases and 75% (or sometimes 80%) on refinances. 

I do take this into account when I'm looking for rental properties to purchase.

If the STR is a strong investment, by all means purchase it, but there's no such thing as balancing a portfolio.