You mentioned they are also doing a capital call, that is a difficult thing to contend with and, in my opinion, the decision to participate is going to depend on the operator and their communication.  

Not to mention you will present yourself far more professionally to prospective business partners, lenders etc. who will be necessary for your growth.The next mistake you appear to be making is equating number of doors to growth.

When you mention it is a seller direct off market.

As Russell mentioned, agents are pro's at sales while PM's are more for leasing; which I totally understand is not feasible for you!

As Greg mentioned, I would be careful of the potential caveats.

And as mentioned, better theming for the rooms.

It sounds like you’re diving into this with a solid strategy and an openness to learning, which is fantastic.I wanted to mention that if you’re looking to explore additional markets, Memphis, TN could be worth considering.

@Bruce Woodruff- that's true, that's why I mentioned ARV (sales price) not specific rehab costs (which is what the poster was asking for originally). 

Saw Cleveland was mentioned as a Section 8 destination for you.

@Michael Plaks Honored by the mention!