Then you are stuck getting someone to secure the unit if they do that.  

Also be aware of Unrelated Business Income Tax (or UBIT) on leveraged real estate inside of an IRA.Or better yet, since you are self-employed - go with a truly self-directed Solo 401k plan, which would be a much better option and will help you avoid the UBIT on this investment.

I work with an auctioneer who is selling a 103 unit hotel at auction in the southeastern part of the US.

I have one asst. manager doing book keeping weekly on over 400 units. 

Look for adding square footage to property maybe converting an attached garage to living space, or adding a bathroom or bedroom to the units to fetch higher rents. 

You are buying into a business to pass down to future generations, not to mention a vacation home or retirement plan.When I talk about my investments I don’t talk about a 4 unit ugly building in (insert boring/cheap state in the US).I talk about Europe!

I don't want to violate any of the self-promotion rules on this thread by specifically linking or name-dropping, but it's from a data analytics platform I am working on specifically built for tracking construction, debt, and ownership activity in the Philadelphia region.I will be posting more detailed insights soon. 

Learned about his children, learned about the 60 units of apartments he owns and how he manages to keep the expenses low.

Personally, I self manage but have built systems to allow it to be fully remote and very passive.

I own a 4plex there and I have one unit that has been vacant for about 4 months now and this seems on the high side of vacancy time.