Also, capital gains on the sale are a significant concern that makes holding appealing.

The cashflow was appealing on the deal.

The owner understands this so is selling at a higher cap to make it more appealing to a buyer.

I’d take a look at these markets that are appealing and see what your purchasing power is there and how that aligns with your goals.

What is appealing to you about STRs (especially given the current circumstances)? 

The previous landlord was a long distance investor and definitely not aware of the degrading visual appeal of the apartment because of the pros listed above. 

Home inspectors only do visual inspections. 

The term no inspection might appeal to the seller but it’s so common to do inspections that it shouldn’t be a deal breaker.

What about your offering and your business, is it appealing?

About the property: 230 doors, 2 pools, 2 club houses, 50% of property is direct golf course frontage, bad reputation in town for being run down, actually is run down and in need of renovation, currently running 22% vacancy as a result.What are we are currently planning:  Training personnel to upholding our business standards, renovating units at a rate of 8-10 days per (based on previous experience), changing the name, new signage, creating actual curb appeal through external paint and landscaping.