Question on a 20 unit deal

[Kyle D.]

Hey guys,

I have a unique opportunity to purchase a 20 unit for $350k all brick buildings from a bankruptcy.  I have the rent roll attached but I am VERY concerned about the "Current Balance" from the property management printout.  Can someone wiser than me shed some intuition/insight on this? IF I get the place, should I send eviction notices day 1 (or 7 days after last partial payment, etc was collected)?  What are some ways to handle this?  I also noticed a lot of people are paying $425 instead of $475, and others have end dates < 2015 which means I will need to get them to sign a new lease agreement. Right?