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Updated over 7 years ago,
To Keep the Tenants or Not
I am currently negotiating a deal for a 3 family in my desired area. The property hits all my numbers almost perfectly. The road block I'm running into is the seller does not want to deliver the property vacant at closing. He says he is selling because he is old and does not want to deal with the burdens of owning the property anymore, however, the property is turn key and the only burden I can see from this property is the tenants. I can see these tenants becoming a problem down the road when I want to raise rent to market rate. I don't want to inherit these tenants for reasons I am already familiar with. What would be the best way to create a win win for both parties in this situation?