Occupied Triplex without Leases

[Tim Nethers]

I have the opportunity to buy a triplex in a decent area that’s cash flowing hundreds and the numbers look good. The potential for issues are that while it is occupied the tenants have no leases and no security deposits, and there is a language barrier that means one of the tenants is translating for the other two.

How do you navigate this? I’m going in with property management.