I also sort of assumed that househacking means trying to minimize the expenses.I guess it really comes down to whether she's figuring her residence/unit in the income numbers.  

If the owner wants to be paid for the vacant units, they should fill them (with any associated expenses) and then market the property.As with any rental property, there is a 'normal' vacancy factor that the seller is going to minimize and the buyer is inflate.Owners wanting to be paid based on unrealized potential is much of what we are seeing in the MF space.

Depending on the net difference between the new kitchen floor and the adjacent room, you can buy a transition piece that will minimize the appearance.

Now if someone said "Hi, Jd, this is Sarah - I was talking to Charles at XYZ industries and he indicated you were in the market for some 4G-compliant Widgets, and thought I might be able to help", I'm way more likely to listen to the sales pitch.  

Just make sure you narrow it down before you ask, to minimize that. 

However, as you indicated, it's a long drive.  

They aren't the worst areas in Memphis but this should clearly indicate that these are C class areas. 

Note that there are way to minimize this; if you are curious I'm happy to lay out tips, maybe in another post.2.

I will say that what you saw today is indicative of the culture and economy I was referring to in my original post. 

Understands real estate well and runs his own practice so he knows what it's like to be a business owner trying to minimize taxes fully.