"Since you’ve offered the $300.00, honor it"That I believe is a mistake, they burned that offer when they got greedy.

The seller gets to remove the burned of the monthly note while the investor takes a whatever equity is on the home, turns around and can cashflow if numbers work. 

Look around, well over the majority these days crash and burn with one SF.

😀So I speak with some actual first hand investing experience.It’s is never as good as some think and it is never as bad as some think.While some big name syndicators have crashed and burned, the truth is this only represents a small share of the market.The overwhelming number of MF properties are owned by long term owners with fixed rate debt and Billions in Equity - those people are not in trouble.I believe perhaps 10% of the MF stock is owned by syndicators.

Is the property manager an “asset manager” or simply someone looking to “churn-and-burn”?

I personally won't be doing them here in MD, but some people specialize in acquiring those types of properties and I would strongly suggest you to attend local meet ups and try to speak with someone who had done it successfully and never got burned.

If you don't know better, it's easy to get burned. 

I would rather invest my time and efforts in creating a quality life for me and my family , travel the world, enjoy the moment than burn myself out 7 days a week trying to build an empire of any kind. 

Everyone has been burned a time or two if you have been doing this long enough. 

Burned up time.