Does any body have experience running a rooming house?
I am a real estate broker and investor. One of my listings is a 69-unit building that's been operating as a rooming house for at least 2 decades. I am toying with the idea of purchasing it to add to my portfolio and currently planning an acquisition strategy.  

I'm looking to connect with anyone (in ANY state) that has experience operating Rooming Houses for more insight. Please share experiences good, bad and especially ugly ones. Thank you in advance!
[{"id": "g7c899l", "text": "Like a hostel? Or weekly type rentals? I do a lot of room rentals for college students", "replies": [{"id": "g7c8v28", "text": "Transient housing offering daily, weekly and monthly rents. It's a little beat up and vacancy rate is higher than normal recently due to covid but the potential is there.", "replies": [{"id": "g7c9mjs", "text": "SRO is a tough business good luck. Consider talking to sober living operators, smaller scale but similar rental situation. You state should have a list of operators, they\u2019re unlicensed SROs that have house rules but like... they\u2019re not really \u201crules\u201d. That\u2019s a weird wild world.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "g7chjjk", "text": "Not worth the headache unless your going to have an operator run the whole show, but curious on the margins after all of that.", "replies": [{"id": "g7cu6xj", "text": "I\u2019ve looked into it out of curiosity once it\u2019s a really tough business to make money on unless you are personally operating it. You\u2019re dealing with a really \u201crough\u201d clientele, dealing with cash generally as tenants don\u2019t have any sort of credit, and they beat the shit out of the property. Also scared the shit out of me if something happened... to make it work you have to personally be the operator. Not worth the headache there are better ways to make money.", "replies": [], "depth": 2}], "depth": 1}, {"id": "g7d5jqz", "text": "I know by plenty of people who have done this and completely lose their entire life sucked into it. Its easy to set up the business. Its hard to find someone you trust to delegate management to. Unless you want to find yourself wishing you could leave town or focus on anything else, its going to be constant micromanagement.", "replies": [], "depth": 1}, {"id": "g7dauyk", "text": "Id spend sone time and money getting foia requests for copies of property tax appeal dockets. Read a few of those appraisals and youll get a really good idea of what it takes", "replies": [], "depth": 1}, {"id": "g7j97l7", "text": "It really depends on the market appetite for this type of housing. Some areas like San Francisco or NYC, have a good amount of this type of housing, and investors can do very well with it.", "replies": [], "depth": 1}, {"id": "ivrpxbm", "text": "Know someone with a multimillion dollar rooming house business. Bunch of headaches but seems worth it since government rent money is basically a guarantee", "replies": [], "depth": 1}]