Buying condo with rent stabilized occupant

[Parney Willson]

In New York City, I have seen foreclosed condos under market, but have rent stabilized tenants paying about $800 or similarly ridiculously low rents. 

My question is if were to buy such a property, what are my rights as a landlord/owner in terms of rent?

I wouldn't want to force the current tenant out and would instead wait them out.  But am mostly concerned with what happens to the rent stabilization once/if the tenant moves on from the unit? Does the apartment become de-regulated thus allowing me to rent at market value? If not, suppose I decide to move into it instead? Suppose I move into it then move out the next year?

Is there a drawback I am missing with regards to buying a foreclosed condo with a rent stabilized tenant and waiting them out? Is it possible for me to learn more about this tenant (age, health, etc.)?