Numbers go up and down for rental businesses all the time – up slowly as you collect rent, down quickly as you need to perform maintenance.
It might be an okay investment for me (I'm a salary man, can't be bothered with freelance work), but for him I'd bet it's a money loosing proposition
[edit] the 500€/hour is an outlier, he wanted out of a project and kept increasing his rates, which were accepted up to that point.