New leases when acquiring a duplex - quadplex

[David Edwards]

Hey BP,

Going through the Pre-approval process at the moment and hoping to move on a property in the Tacoma area in the near future. I'm looking to house hack this property and get my feet wet with tenant interaction while managing costs internally to meet the cashflow goals I'm seeing in my models. 

In reading a few books on buying rental properties I've heard mention of acquiring leases from the previous owners and what to look into to make sure you are getting the whole picture from the seller. My question is wouldn't you want to have a new lease with tenants after the sale so you can make sure the terms are what you intend? Seems like it would remove the question of deposits as well and make the whole thing more straight forward. 

Any thoughts or experience from folks would be appreciated.

Thanks,

Dave