Good luck and i hope you find it rewarding! 

Learn the law, create policies and procedures to deal with problem tenants, and then do it the right way so you save money and avoid rewarding a crap tenant and pushing them onto someone else.You can write the purchase agreement so the property meets your requirements.

Please note that Developing a Self Storage Facility from the ground up can certainly be financially rewarding.

@Francis A. since you live here you know what it is like to be in a city that has a lot of excitement, great weather, numerous companies and the opportunity to make your dreams come true.With these great things comes a high price tag! 

If you're willing to work then the rewards are amazing. 

Besides the risk, the reward is just a little more money in your pocket and then you have to start over again.

But hey, no risk no reward right?

But with that, you are looking at a long term (probably) reward.

@Jamie Garcia yes there are always numerous purchases that are happening here in the Los Angeles area for multi unit 2-4.  

If they need immediate cash, there are numerous note investors who will buy “partials”, i.e. they will buy say the first 2 years payments with the seller keeping the large majority of principal balance.