Weary of "Currently Renting At" Listings

[Jason Blythe]

Hello all! We are in the processing of purchasing our first investment and it got me looking into other opportunities for purchasing. Around us there are several properties listed with "currently rented" rates that make the deal very attractive from a monthly income point of view, but you don't know what you don't know. I hear a lot on both sides about purchasing to rent so you start fresh with renters and purchasing already rented as you know where the income already is. My question is what kinds of due diligence can we do to make sure we are not buying something that can be currently rented for just a few months and then we are stuck without renters :/ Is it acceptable to ask the current renters to sign new agreements if they are close to the end of their contracts? Any suggestions would be great!