Buying a motel for grandparents?

[Justin Bearce]

My grandparents are selling their 5 room hotel (they fully own it). This motel has a one bedroom house (Maine residence with office for motel) and a two bedroom mobile home on the property renting for $200/week. It is also sitting on nearly 6 acres which only about half used. They have told me that in 2017 they made a profit of nearly $30k after doing extensive renovations (new deck, floors, showers, etc..) this is where they live and they do all of the work. 

I want to buy the motel from them, but I have a day job which pays much more. So I could hire someone to run it during the days but with that and mortgage that pretty well soaks up the profit.

I have already considered ways of increasing profit:

-Update systems for online reservation

-look into marketing to bring more attention to the motel

- and currently they are not doing well health wise so they haven't been trying to get any more business than necessary.

But I am looking for ideas on how I could manage to make this property profitable for me. Any thoughts? Thanks!

[Jimmy Klein]

As Greg said, at 5 rooms it wouldn't be worth it to hire someone to run it, it would eat up all your cash flow.