What's the catch with those cheap hotels for sale in Italy?

I came across several very cheap hotels for sale in Italy and I’m seriously considering pulling the trigger. These hotels aren’t in great shape, but they’re far from ruins... they’re fully operational and listed on Booking. Some prices are wild (for example, found this one with [50 rooms for €450,000](https://www.buythathotel.com/listing/scenic-hotel-for-sale-in-tabiano-terme)). Of course, they’re not in top locations like Lake Como or the Amalfi Coast, but... it’s still Italy, with its culture, great food. All the ones I’ve looked at are run by elderly owners who just want to retire. They have zero tech or marketing skills and haven’t invested much in the properties over the past decade. So I figured that with some alternative concepts, like coliving, it would be nearly impossible not to make money (or at least be able to sell in a few years for a profit). Bureaucracy will probably be an issue, but that’s the case everywhere in Southern Europe. So what’s the catch?