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Updated over 7 years ago,
To inherit or not to inherit... tenants that is
Ok, so we have found a property. It looks good on paper and in person, however, the one unit has a tenant that was once the owner of the property and since has been renting it. They would like to stay after the property is sold. All the units are way under market, and need to be increase to make the property worth it.
Should we consider letting the tenant stay, or is it better to start with a new set? What experiences has anyone had with this type of situation and what would you recommend knowing what you know now?