Inherited Tenants without rental payment verification

[Jason Winter]

Hello BP Community,

I am under contract for my first first triplex property which will be used as a house hack. I have toured the house twice now and we have already had the inspection. The property is in great shape and the units are pretty well maintained. We have an Estoppel agreement signed by the 2 occupied units. One unit has a signed year lease that just started in November-21 and the other units lease ends in January and then goes month to month with a 10% increase.

The problem is that we do not yet have a verification of rental payments.  As a first time investor, I do not want to get in a situation where i am purchasing a property where rent is either late or not received. I am not sure if i should make this a sticking point and pass on the deal if they are not provided or based off the solid conditions of the units and the signed estoppel, assume that the tenants are current with their rent. The current owner says they have asked for this info from their property management company but have yet to receive it. Any advice is appreciated.

Thanks,

Jason

[Drew Sygit]

Would proceed VERY carefully!

What will you do if you close and find the tenants have used the Eviction Moratorium to avoid paying rent and are months behind?

How long will it take to get them out?

What damages will they do when evicted?