Reasons for investors to sell rentals?

[Michael Clemson]

I'm looking at an apartment rental property. The numbers are great (19% cash on cash). This would be my first rental property. I still need to see it, walk through, and have an expert GC or inspector help me understand issues and years remaining on major components/mechanical.

The odd part is the owner-investor has a property management company manage it, owns a SFH rental next door (this one is a converted triplex), and has other rentals. I haven't seen a true Schedule C yet (requested), but my assumptions appear solid so far based on spreadsheets with revenue and costs.

What are the reasons investors sell properties? I'm try to figure out the catch: she is profitable and has zero involvement and is fully rented. What could be her motivation to sell? Obviously repairs could be one cause, but I expect I would discover that on walk through/inspection -- right?

Looking for caveats and reasons to walk away or reduce risk.

[Arlan Potter]

We just bought 32 units from an owner that had 138 to sell  -  He is Retiring to travel more.

also you need to see the schedule "E" not C