It seems this turn key provider is quite the peddler with an excuse for every concern you raise which would give me additional pause.

The current owner’s strategy has been longevity with good tenants vs. raising the rent to keep pace with market pricing. 

Or if we start taking direct bookings, we can get a deposit or have a card on file to cover damages that they cause. 

I’m sure some of you have faced similar challenges.Aside from raising rent (which can be tricky depending on the market), what other strategies have you implemented to get back to positive cash flow?

To that end I am raising capital to start BRRRR type investing in multifamily homes.

Rural counties near by raised their section 8 rental rates.

As an example: the lender asks for a payoff letter for a credit card or some other debt so that it can be paid off at closing.

Contact the local Assessor's Office to find out how much.You state this is a "college town property", but the rents don't reflect that.The low rents typically are reflective of long-term tenants that the current owner hasn't raised rents in awhile.

The new owner will be able to decide if they will gradually raise rents to market or have tenants move-out, renovate and mark-to-market.

That was the entire premise behind raising the FFR - to slow down economic activity by making financing more expensive.