Wholesale a SFH that is rented like a multi-family?

[Joe Pankiewicz]

I’ve come across a motivated seller on a deal that I would be looking to wholesale, but the circumstances of the property are such that I’m a little stumped on an offer. So I’d appreciate any advice.

The house is currently rented out per room to students. The exact location of the house lends itself to student renters, but there are also some very nice neighborhoods with expensive houses that are largely owner occupied in the area.

Given that there are a number of leases to these different renters, the house doesn't seem like it would be suitable for the single family type buyer – more for an investor. But the price that would be needed to make the cash flow metrics worth it is far below what the house would likely be worth on the single family market. And the seller obviously wants a price closely to the top of market for the SFHs in the surrounding neighborhoods – not to mention that the house is well worn from years of renters versus the nicely staged houses on the market.

I’m just wondering if anyone can impart any experience on how to work with a property like this?