One reason is, it only has five units rented month-to-month with a couple Airbnb‘s. The seller managed it himself and didn’t keep up with it. I’ve talked to a property management company and there is enough demand to get them rented. It’s in a small town.

@Rayed Hussain no, I didn’t get the money. I appreciate you following up. I think I got ahead of myself with only five units rented in a small town. I probably shouldn’t be offering as much as I was. What I would like to do is an option to buy in the future and see if I can help the seller get rents up. Since he doesn’t want to come down on price or terms. I could see this being a good deal if I can lock in a price higher than he’s been getting offers for but lower than what it could appraise for fully rented.