Just bought my first 8-plex - help please :)

[Jennifer Rysdam]

Hi all. I just bought my first 8-plex yesterday. I got a sweet deal on a contract for deed. My mind is racing on where to start. I have to get the inspection done first, but after that I have a lot of housekeeping to do. I really need forms. He was on a rural housing program, so all of the forms and processes will be different now. Please let me know if there are any great sources for sample forms. I'm in MN if that helps. I also have to get some tenants to start paying the going rate of rent or move to another low income property. That will be the tough part. As people move out I'll be renovating the units to update them. This will start with a letter to all, stating the new ownership, any new or newly enforced rules(no smoking, cleaning up after dogs, etc.), and mentioning that they have until a certain day to start paying the rent or move on. Any advice would be greatly appreciated. Thanks!