Looking for my first investment real property

[Moises B.]

Hi,

Looking to purchase a property with 2 rental units and a store front on 1st floor. Rent with separate utilities. What threw me off was the current tenants are on month to month lease...? I don't know I've heard of such thing.  Given I purchase the property I'm sure I can have them sign a new yearly lease, no?  Additionally, perhaps convert the store front into an actual unit, given the rehab cost is not significant.

Any help is appreciated.