OK, my offer was accepted. Now what?

[Angela Jossy]

I found a duplex for $199k and I put in an offer and it was accepted! My realtor is having the inspections done this week. I'm giving them my earnest money tomorrow. One unit is vacant and one is occupied. I'm waiting to find out the story on the existing tenant. They have crap all over outside including a broken car in the yard. I'm not sure what their payment history is or household composition or lease terms although I do know that they are month to month. All of that tenant information should be communicated to me this week. 

If the inspection is OK and the sale goes through then I'm planning to move into the vacant one and start fixing it up as an Airbnb. Its a tiny studio with a storage room that is raw but could potentially become a legit bedroom. I think it could be super cute as an Airbnb. Then I will probably move into the 2 bedroom unit and fix that up, refinance out of the FHA loan and rent that out.

What advise would you give me at this stage of the game? 

[Richard C.]

Under no circumstances should you accept the building with that tenant in place.  Make it a condition of the sale that both units be delivered vacant.  If there is no lease, there is time for your seller to move the tenant out.

Seriously.  Do it.  You will regret it if you do not.