accepted offer on investment property :)

[Sarah Jane]

Hello Everyone it’s a happy day!, just when I was thinking that my offer might have been a low ball one it got accepted 35k under value!. Wanted to get some input from everyone on what I should do with the tenants they’ve been paying one rate for multiple  years with the previous landlord when I take ownership can I automatically raise the rents?. Also after I get things running and get a positive cash flow how long would you guys suggest I wait before going to the banks for another mortgage? Being self employed it’s difficult with the banks but hopefully they look at it different since it’s an investment property