@Nabil Suleiman and @Aaron Klatt  When I get time, I have to actually visit some of those areas. 

It’s a nice, stable neighborhood full of many single family homes with people who take care and pride in their properties.

i'm wondering if i invested to fix up the place and make it very nice, and wanted to get better tenants, what would be the most i could charge rent in that area?  

I already have an existing business and units ready to be placed so if I could get 40-50 units rented it would be nice to have that income as I prepare for the larger development costs to come down the road.I hope to build a much larger pad where I will need additional permits and then eventually actual self storage buildings.

Not every property is going to be great--location, size, and how nice the property is makes a big difference--but even imperfect ones can do well. 

Nice back of the napkin math @Andrew Johnson That really tells you everything you need to know. 

It's nice to send thousands of letter each month but if you are not targeting your audience, you are shooting blanks.

If I were in your shoes now I would be as nice as I possibly can be and tell them you are fine with them leaving and will simply apply their deposit to the LMR.

@Louise Alexander, @Bijoy Shah, @Kevin Wyn, @Ross Denman, I'll be visiting Indianapolis on a weekend soon and would love a chance to network with some locals there. 

Perhaps a nice 1950's built bungalow.Always hire a 3rd party property inspector to give you an unbiased feel for the home.