They've also used no rev management whatsoever, just a fixed nightly rate.  

Hi - I’m relatively new to the real estate game and am just starting to read multiple books involving this topic.I noticed a house being cleaned up two weeks ago, talked to maintenance people, and was in the right place at the right time to talk to the owner.

When you purchase the house who picks up the keys after closing?

We were able to work with the sellers since they were going through tough times and wanted to get out of the house quickly.

It’s been unable to sell because the original house was a single wide in the 70s that was then added on to.This makes financing either difficult or very expensive for people (especially since it’s a low price point and mainly first time buyers).We would be paying cash - so it’s not an issue for us.

I’ve designed, built, and sold a house myself.

I learned what to look for when looking at a house and what tactics to look for when negotiating with a seller.

1) A down payment up front of $15-$30k per property (or whatever they can afford that you’d accept). 2) Rent (not applied towards purchase) - covers your mortgage, but no more maintenance or management fees, etc. 3) A windfall of the balance of the purchase price at the end of the term.Bonus: if they want, they can apply additional funds towards the balance of the purchase price on top of rent. 

Consider hiring a property manager if you don’t have the time or experience to handle this.Maintenance and Repairs: With multiple units, maintenance requests may come in more frequently.

You can house hack the multi family for a year and then move out.