I usually try to have an area set up with some claymores already placed, I place more as the rounds go on to build up a clump of claymores and add 2 more when the thief round starts to that clump, then unload as he comes after me in a straight line into about 8 claymores and faceplants.
He always drops a max ammo ( even if you fail to kill him in multiplayer )
He WILL drop a "Fire Sale" if you kill him fast enough, AND you will get your stolen weapon back.
If you kill him extremely quickly he will drop a "Bonfire Sale" (lol ) and you can pack a punch a weapon for 1000, and open the random boxes that spawn in every possible location like the Fire sale.
Five lvl 40+ solo walkthrough coming soon on my YT, Kino Der Toten already posted:
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But seriously the elevator strategy is pointless its not like he attacks you lol...and missing out on the bonfire sale, which makes it so you get a dirt cheap PaP'd weapon every few rounds if you want is a huge loss.