Buying a property with expired leases

[Jeremy Komer]

Hello Everyone,

Ran into a new situation, the place I am under contract for does not have current leases with the tenants.

They say they did not respond to the previous notices and thus the lease that expired in 2019 rolled into a month to month.

They are however paying the old amount not the current month to month amount ($100 gap)

The current manager has only been managing it for two weeks.

The analysis has some wiggle room but how to I appropriately Guage the risk here?

Should I just assume two evictions into the analysis and hope for the best?

The seller doesn't want to approach the tenants for new leases or an estoppel agreement which is rather strange.