I am completely shocked and surprised by this action as this was unexpected. 

Sellers agent was shocked.

Good help is hard to find, which is why its so shocking to me when you investor types find one, you still don't want to pay their rates.

There are a lot of people trying to sell houses in Memphis with shocking values.

I was shocked when my brokers (been with two different brokerages) mentioned this, because in my corporate job deadlines are deadlines; I can't call my Finance Committee and ask them to push back a meeting because I do not have the presentation prepared.This per diem concept was news to me, as I haven't experienced it previously in other transactions that had minor delays.

Though it's tougher to rent in fall/winter, if the place is only renting between 25-50% of market, I'd be shocked if you couldn't do far better than what they're paying you now. 

Also, have you made any preliminary inquiries with the city about short-term licensing?

I'm shocked to see it's the only ad in this area. 

If not, I'm sorry - I can try to find a better way to explain it.CapEx - things like roof repairs, big purchases that will eventually need to happen, so you consider CapEx % taken from monthly rent so you're not shocked when big ticket expenses occur. 

I did some very preliminary research on whats for sale vs currents rents on condos/townhomes/SFR but all were cash flow negative bigly!