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Updated over 2 years ago,
Buying first duplex, inheriting tenants question.
Good day,
I am purchasing my first duplex. This will be my 4th and 5th units to my portfolio. I have been wanting to get into multifamily since the beginning, so I want to make sure that I do this correctly. I am excited about this but nervous that I will be inheriting tenants. The rent analysis says that the rents are on par with the area and the utilities are separated, except the water which the tenants pay a fee on. Outside of these things, when inheriting tenants on a multifamily purchase, are there any red flags or a specific checklist of items you try to make sure of before closing?
Any and all advice is appreciated. Thank you!