They work at rapid speed compared to govt programs that take their sweet time in providing landlords much needed funds. 

**Stay Informed:** Real estate markets can change rapidly.

I believe Frederick is the next to grow rapidly.

I have tremendous confidence in that area long term but only planning on holding something for five years is riskier, given interest rates are high and you'd likely make little progress on the principal / not build up a ton of equity before selling (meaning it would have to appreciate quite rapidly for you to come out ahead). 

Hello @Sushil Gupta,Excellent question.While no one can accurately predict the future, I can describe the characteristics of cities that are likely to perform well over the long term and experience rapid and sustained appreciation.Prices reflect the balance (or imbalance) between the number of sellers (supply) and buyers (demand).

Here’s what investors in Upstate NY can typically expect:Average rental income: $12–$18 per square foot annually for climate-controlled units, with higher rates in urban or university-adjacent marketsTypical ROI: 8%–12% annually, depending on location, management efficiency, and leverageCap rates: Generally range from 6.5%–8.5%, with rural areas skewing higher and urban areas lowerAverage occupancy/vacancy: Stabilized properties maintain 85%–92% occupancy, with seasonal fluctuationsWhile initial lease-up periods can take 12–24 months, demand drivers—such as downsizing, relocation, and business storage—help fuel rapid absorption when priced appropriately.🏦 Grant Opportunities and IncentivesSeveral state and local incentive programs may reduce project costs and support adaptive reuse:Restore NY Grant ProgramProvides funding for redevelopment of underutilized or blighted propertiesEligible for up to $2 million per project, depending on municipality sizePrioritizes reuse over new constructionNY Empire State Development (ESD) GrantsOffers capital support for projects that create jobs or enhance infrastructureMay apply if the self-storage facility includes mixed-use or light commercial componentsBrownfield Cleanup Program (BCP)If the industrial site is eligible, investors can receive tax credits for cleanup and redevelopmentLocal Industrial Development Agencies (IDAs)May provide property tax abatements (PILOT agreements), sales tax exemptions, and low-interest financingEngaging with local planning departments and economic development councils early in the process can help identify available resources.🧮 Key Metrics to ConsiderMetricTypical Range (Upstate NY)Conversion Cost (PSF)$40–$70Monthly Rent (PSF)$1.00–$1.50Cap Rate6.5%–8.5%Vacancy Rate8%–15%Typical ROI8%–12%Stabilization Timeline12–24 months🔍 Final ConsiderationsBefore moving forward with a conversion project, investors should conduct a thorough feasibility study including:Local self-storage supply and demandTraffic counts and visibilityZoning and permitting analysisBuilding condition and environmental risksExit strategies and management optionsSelf-storage remains one of the most stable sectors in CRE, especially when combined with the cost efficiency of industrial reuse.

I know markets are very local & things can change rapidly, but from your experience, which real estate markets in the country do you see providing best cash flow if purchasing within the next 2-3 years ?

I bought this because it's in a rapidly growing area.  

For those of us planning a series of rapid-fire BRRRR purchases, the notes on avoiding a 6-month or 12-month seasoning period (and routing the mortgage through the LLC) are absolute gold.

Hence a significant hunk of the STR market is rapidly moving to hotel chains which have the capacity to offer last minute free cancellations - no questions asked.Makes sense to me.