Possible 8-unit opportunity, needing advice

[Adam Smugala]

Hey BP community,

I have came across a possible 8-plex for sale, which has a unique history, that I need some advice on.
The building has 8 units with 7 of them rented weekly and one rented monthly.  This is obviously not ideal for a long-term buy-and-hold but I got the financials and the dang place cashflows like a boss.  Over $8000/mo after landlord-paid utilities.  So it's basically a weekly hotel.  I know this comes with it's own garbage bag of problems (lots of cleaning for the weekly turn-over, not as stable income, possibly some lower income people floating through there, etc).  This building is constantly filled from what I was told.  It has a hefty price tag, I assume because of the cashflow.  The owner is asking $599,000 which I think it too much and wouldn't pay that.  Any input would be great.