Fully rented vs fully vacant? Which do you prefer to purchase?

[Joshua Gordon]

I am looking at a multi family property that is fully vacant while the owner tries to fix it up. Which do you prefer when buying a fixer upper: fully occupied or fully vacant? Maybe a mixture? My thought process is that this allows me to make any and all repairs required before moving in renters that I can screen instead of being stuck with potential bad tenants and have to repair in spurts. Your thoughts?

[Catherine German]

I vote for Vacant. You can make sure you screen the tenants and that all lease documents are current & in place. You will also have your move in photos and inspection which many times you don't get when you purchase occupied units. This makes doing the disposition of security deposit rather difficult at move out.