Multifamily units Auction with Tenents

[Hang Li]

Hello all,

I found a multifamily property with 3 unit on MLS and it is up for Auction. Through Spokeo, I just found out it has occupying tenants probably with fixed rents/low rents. Would I have to wait until their leases end to remove the current tenants to do a full scale renovation. Any other way to relocate occupants currently in a foreclosure property. Is it even possible for a bank to take a home with existing tenants?

Another thing, the last time it was purchased was in 2009 for $500, which did seems strange because its neighboring units were 200k-300k.

Please advise.

Many Thanks,

Hang