MTR room by room arbitrage to mom and pop landlords

[David Choi]

Hello! Does anyone have any experience running an MTR arbitrage / Property management with properties that are listed for rent by mom and pop landlords?

If so, how do you propose your value add? Do you pitch it as a property management or as a sublet situation where you ensure monthly rent payments while you run your business through their property? Do you pay the upfront costs of furnishing, changing locks, etc?

Context: I just bought my first rental and I am running it as a room by room furnished rental. I'd like to expand to more properties so that I can establish a worthwhile management system (cleaning, turnovers, professional listing photos, aesthetic furnishing, etc)