It's far superior to private or hard money should you need short-term money for a flip, for outfitting a new STR, etc.

No it was not for sale, it was part of an area drive to get to know that area (boots on the ground).Drive it, stop in and talk to the mangers, rental agents, maintenance a little, act like a potential renter.It's owned by a BIg Name in the business, and they run it HARD and MEAN...and accept some pretty low quality renters compared to the rest of the area.I think they are shooting themselves in the foot running it like this, but I have seen a couple other of their operations run similar.I think because they are so big, some of their places don't get the best business plan, like they would if a smaller outfit owned it.

When outfitting the house, I build out a great kitchen with tons of options.

First time looking to pivot into multi from SFR.Came across an outfit that said they are off-loading their portfolio, to move into bigger deals.

After looking up online reviews for Meerkat, it seems they are the kind of outfit I want to avoid.

I have been interviewed by the FBI on one such outfit and they got prision time.But those are bad people and well we assume your seller is a nice person..

Hi Ian,One point of doing business together is does the person believe you're "Outfit" can do what you say they can.I'd say just be yourself, and make a friend while you are there.Even if this deal is a no go (things beyond your control), maybe something in the future will pop up for the two of you.And just be yourself, and don't wear dirty construction boots into his home (or anything like that).Good Luck! 

Outfit all houses with design details, amenities, and "WOW" factors that none of the comparables have4.

Also outfitting with furniture and fixings as a Midterm rental.

I work with two PMs in Memphis and both contracts are better than these from what I remember.One is a turnkey outfit and the other has gone through change of ownership, so I believe some of their terms have changed but I’m “grandfathered” in to the “old” contract.