I'm looking for a passive, low-risk incomeEXPERIENCE: Very Little.  

The education you'll gain from that experience will far outweigh the low salary/wages that you'll be paid.

I'm going to have to do more than just direct mail given that my budget is so low. 

The price is low at 900k.

How much of a reduction is she asking for?

She has been renting it for a super low friend rate from me.

The other 3 charge around $700 a week for a nice room with 2 beds and access to a pool, weight room, and free breakfast.So I charge $400 for 2 bedroom places that are as nice as the $700 a week motel, but people can cook, do their laundry, have their wife visit, shoot a bow & arrow in the back yard, process a deer in the garage, work on their vehicle, etc. 

Kansas City is a great place to look due to its low-cost housing but thriving market, just as @Mike D'Arrigo mentioned above.

Pro's:- you know what you want, what to ask, where you want to buy,  and the average buyer agents who are not pro Airbnb specialists just do not know how or what to ask as good as you do, they can sometimes get in the way, I get it- you could potentially negotiate a reduction in sales price based upon the amount of the buyer agent commission, - the listing agent could work harder to put the transacation together because they are hogging the entire commission, - seller agents know the motivations of the sellers and you may be more successful uncovering motivation, or seller structuring it to work for both sides more effectively than buyer agent- the closest distance between two points is a straight line, we usually get better results dealing direct as experienced buyers, unless you have a superstar buyer agentCon's: - the listing agent commitment and fiduciary responsibility started with the seller, will they now all of sudden become truly nuetral as transaction broker?

But 8% seems like a fairly low rate of return for what you will be doing.