Repositioning

[Johnny Kang]

If I'm buying a muti-family (5-10 units), what are the step by step process in repositioning a property so the rents are up to market rates? There's a property I've been looking at which needs a lot of work. Can I, as the new owner, raise rents on tenants with no leases immediately and ask them to leave (or evict) if they're not willing to pay the increased rate?