Buying Tenant Occupied Property

[Robert P.]

I am on the verge of purchasing a tenant owned property with 3 units. Since I did not screen these people, is there a way I can get all of their info (names, DOB, social, jobs, etc) legally? I'd like to have this information for my safety in case it ever turns bad.

Also, before closing, am I able to get:

1. Past leases/rental agreements that tenants have signed? 

2. What happens if no agreement has been signed? Should I create one the minute I hold ownership?

3. Anything from seller stating what current rents are and that they will not change between signing P&S and closing?

4. Does it make sense to ask for pro-rated rents paid to me if we close in the middle of the month, or is it not worth the hassle?

Thanks in advance for all the anticipated responses!

[Carl C.]

1.Yes

2.Yes

3.Yes

4.Yes

Remember your buying a Business not just a piece of real estate. Contracts=proof of a good business.