Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
General Landlording & Rental Properties
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 9 years ago,

User Stats

429
Posts
143
Votes
Mark Douglas
  • Investor
  • Nashville, TN
143
Votes |
429
Posts

Inheriting problem tenants?!?

Mark Douglas
  • Investor
  • Nashville, TN
Posted

I thought I found a solid deal.....FHA owner-occ on a 4plex.. I had been asking to see the rent roll, and finally got it. Here's what I found:

1)  One tenant has been leasing for 8 months and has had 3 late pays.  Currently going through the eviction process, but his lease doesn't end till 01/31/2016  (I was wanting to close before the new year)

2) Two tenants are leasing (separate units) but they've got 4 late pays between them, and they haven't rented for a full year.

3) PM company (which I will let go upon purchase) charges late fees inconsistently, and in varying amounts.

The only positive thing was a 2 year tenant with 0 late pays, but her lease ends at the end of the month.

Is the problem with the tenants, PM, or both??  (I'm keeping in mind that HOPEFULLY the tenant going through eviction will be out by Feb 1, and that since I'm occupying a unit, one of the tenants in complaint #2 will be out)

I don't want to buy a headache..

Loading replies...