It isn’t a bad thing, but rates aren’t as competitive as Fannie and Freddie.

Also, I have hardly any competition instead of being in an overcrowded market. 

Flood zone properties can scare off the competition.

I am after all, a certified Napper and master at effort/benefit optimization.Hopefully your cash purchase fixer upper is not bankable to allow you the least competition when buying. 

But I do give about 25% more effort than whatever my main competition is doing. 

That said, I bought my current home when the market was just starting to get competitive again.

It’s highly competitive finding good deals but if you can spot one and act fast or network off market, you could use a VA loan for a 2-4 unit and be golden.

@Jesse Riggins Crushing your competition by Mac Goodin if a good book on running and marketing self storage.

First of all,  your expenses are going to be perhaps 30% more and it can suck your really suck your time on a long-term basis unless you're willing to spend a lot of money to have others manage it and you are facing a lot of regulatory  and rapidly growing competition  that can drive down your future earnings.

The Hypersupply phase can last anything from 2-4 years before a recession hits.With the onset of this disrupter - the response to the Corona virus -the Fed has pre-empted the actions normally taken during the Recession to try to stimulate the economy but the drivers for this recession are not economically based and so this again skews the normal cycles.The best lens to to try to assess risk is to stay focused on the dynamics of the normal market - prices for multi-family properties are driven by the demand from investors - the competition for the properties is driven by both the desire for the business ( availability of investors) and the cashflow the property can produce in the future - the cashflow is determined by the space market - ie the market for rental space- the rental space market is driven by the employment market largely.