We have a couple STRs that are incredibly profitable. (1.5-2k per month in CASH FLOW, not gross or even net, for a one bedroom condo) However, I manage the unit myself and clean it myself probably 65-70% of the time.

Think: an incredibly sleepy person can pour themselves on a bus or train and wake up near their apt. 

This is incredibly difficult to do.Most people who do this with “no money down” traditionally are getting some owner financing or creating value and then refinancing.

Asking for annual expenses and vacancy information would also be incredibly helpful!

It is possible that this deal will hit the open market at an incredibly low price. 

Even though it produces good income, it's one natural disaster away from being worthless.   

If they don't produce the paperwork, 2 things:1.

If anybody is a hollywood producer, I have a comedy/tragedy script just ready to go. 

Its a pretty incredible string of legal documents.

But I can get it for really cheap, and after fixing it up I think I could get 3 solid bedrooms to produce at least 1k/month total.