I want to do a deed transfers to sell two properties with tenants!

[Sean McDuffie]

Hi, my name is Sean McDuffie. I am one of those fresh out of the gate real estate investors. As of now I am focusing on wholesaling lease options and buying and selling hud homes. I live outside of Atlanta, GA with my lovely wife and four kids. I am originally from Washinton, DC, so I am still getting used to Snellville, GA. But ok, enough of this...I have a real issue.

A friend of mine bought 5 properties with his partner under an LLC. My friend ended up going to jail for some time, leaving his partner with control of the properties. His partner has been selling the properties without him knowing and lying to him about it. He had me do a deed search and I found that there are only two properties remaining. He wants to deed the two properties over to me so that I can sell them. He wrote up a contract, giving me a percentage of both sales. He gave me full power of attorney over his position in the company so that I can handle the deed transfer and sale of the properties. The money that they used to purchase the properties was "ill-gotten" gains, so he knows his partner won't fight him over the last two properties. They both have tenants in them right now. He is doing a quit claim deed over to me.

How do I deal with selling the properties with tenants? Do I have to get the tenants out first? How do I let tenants know that there is new ownership and I will need to show the property? Do I have to execute a new lease?

Any advice helps!! Thanks!