While they may or may not be professionally managed, Class C properties will have some deferred maintenance issues and need renovations and upgrades.

Here's a breakdown of the situation:Current Occupancy: 80% (16/20 units occupied).Current Gross Rent Roll: $14,265/month.Market Rent Potential: $17,665/month (100% occupancy).Renovation Needs: 15 units require full renovation ($10K/unit), 4 units are 75% renovated ($2.5K/unit), totaling $160K in renovation costs.Vacancy Loss: $41,820/year in lost income due to current vacancies.Cap Rate AnalysisThe seller lists the cap rate as 9.59%, but this is based on the projected NOI of $119,858 (assuming full occupancy and market rents).

Are you purchasing them at full retail value after they're done or are you the one purchase the shell doing the renovation but they're just doing the leg work ? 

We syndicate larger self-storage deals and work with passive investors. 

Purchase price: $45,000 Cash invested: $40,000 Renovation Overview: 1453 Southfield Dr, Columbus, OHWe've transformed 1453 Southfield Dr into a modern residence.

For larger properties, there are no disclosure laws, so purchasers have to be skilled about due diligence. 

I would add that SFH airbnb market here is saturated BUT I believe there is still a robust market for larger homes for family gatherings and events.

Will they finance 100% of the purchase and renovation or will they want skin in the game (you putting money in).Most do not do 100% funding so beore going down more rabbit holes, make sure you have the $ aspect situated first.

If they were only there a month you could re-rent easy with little to no turnover renovation.

An easy flip at 7-10% return might be more lucrative than a larger project that takes longer and more chances for cost over runs.