BRRRR Deal with Tenants in Place

[Brian Raike]

I am considering a BRRRR deal in an area I know decently well and already own a property. Interestingly, the property already has tenants in place. I've seen pictures and it seems like they live sloppily, but they pay rent. Their rent covers the holding costs during the rehab period. I am inclined to keep the tenants in place during the external rehab. Then I would remove one tenant at a time for the internal rehab. This should keep holding costs at a minimum. Has anyone ran into this situation? Does anyone have a cautionary tale from experience? Am I prudently saving money or creating a problem? THANK YOU IN ADVANCE!!!