Higher cash flow usually comes from properties that require more "hands-on" management due to the condition, location, and tenant base.

Based on my calculations it seems a bit overpriced.

Too many facts and each company will be different based on size of project, single family or multi family, single property or multiple properties, etc.

If it is simply the house and the tenant pays all the utilities, I personally would not charge more because you are renting them the house-not based on how many people are living there. 

Ft Myers Beach regulates the minimum stay to daily, weekly, and monthly based in the street the property is on.

Where are based out of?

You could have a case based on misrepresentation if the seller, acting as an agent, falsely claimed the roof leak was fixed.

Best guess of his reason for selling is that he bought it low and during covid, stuffed every unit and room with a tenant on a month to month basis and now wants to sell at the max price based on the comps of the area.

@Luke RentzI am going through it at the moment, but I am going through it as a lender.I have had our attorney send the demand letter based on item 18 of the mortgage:Transfer of the property or beneficial interest in borrowerAfter the 30 day demand we will file for foreclosure.

Regardless, you will likely be adjusting the expense base to reflect the tax reassessment (which you can obtain from the local county), insurance (from your insurance broker quote), property management fee, and usual repair/maintenance expenses/admin/advertising/contract services/utilities.