I'm looking at acquiring a property management company. The company has been in business for 5 years, manages about 50 short term (vacation) rentals. The company is for sale for roughly 2x last years earnings to the owner. As a service business, there isn't much inventory or assets with the deal.

I've never purchased a business before..where would I find values on this type of business? Also, what are some thoughts on how to value a business like this, or frankly any service business?