Buying Invest ment property - No Lease

[Rudy Manna]

I have a MFH under contract that I want to close. I am working with a lender to get traditional financing with 25% down. There are existing tenants but no lease (no paperwork) and the rents are lower than market. One of the reasons getting slight discount.

Now my plan was to buy as - is and have the tenants sign new lease. Now the bank is asking for the current lease (even if its is month to month). 

Are there creative ways to bypass the issue? Suggestions welcome.