Looking to buy first rental

[Eric Johnson]

Greetings BP members,

I was recently contacted by someone who is looking to sell two properties. Both are occupied and are managed by a PM. I'm considering buying one of the properties because the tenant has been in place for 14 years and is not looking to move. Additionally, the asking price for the property is only 25K. My question is, what are the steps I need to take to make this a smooth transistion? Moreover, is it possible that the current owner's contract with the PM could survive the property's transfer of owenrship to me?

Thanks in advance,

Eric