need opinion:5 duplexes package with existing tenants not paying,

[Iris L.]

Hi 

I am a new investor looking to get some multifamily properties for long term rental. I have two sfh rentals. I need honest opinion if I should buy this property or stay away. I am going to manage the properties myself

there are this 5 duplex packages in a B- area. working class, all 4 duplexes are on the same street, another one is close by. all units are 2 bd\2ba, 1000 sqft, built in 1984. All occupied now. rent is from 575-650. owner asks for 525K total for 5 properties. i got the rent history sheet from property management company. the problem is 4 of them owe rent. some owe550, some owe 1500 already. The rent is NOTreceived consistently.

also, I saw a lot of expenses, like $275/month for all the yard work. ready for tenants last year costs $2163. I haven't talked to the property management company yet. If I buy these properties, is eviction the only choice?

 there is another same duplex for sale on the same street for 125K. rent for 650 and 750 for each unit.

My question is for new investors who don't have experience dealing with eviction, should i even consider this? is this too much work too risky?  should I just get a quads or triplex to train myself first? quads at nicer area selling for 300+ here with rent for 2500. 

any advice is welcome.

[John Thedford]

If they have leases the leases come with the properties. If they are month to month, you COULD start eviction as soon as closing provided you give proper notices in your state. They are definitely being mismanaged letting tenants get that far behind. I would try to buy them at a lower price to make up for the issues and also that will help your bottom line. Be prepared for evictions if you become a landlord. Sooner or later, it will be necessary. BTW, if you can get them to pay, eviction won't be necessary but the farther they get behind, the less likely that is.