Buying Out Existing Tenants

[Mark Anderson]

Currently looking at buying a 4plex however many are fully occupied and i would need to occupy the house within 60 days so my option would be cash for keys. Does anyone have some recommendations on how to pitch this to them

• Show the benefit to the tenant for compensation of money 
• Help connect the tenant with a property manger that could help them find a place
  • How much money should i offer 1 months rent?
  • Should i still take some of their security deposit if the place is in decent shape
  • Should i share with them the fact that i need to occupy the place for a cheaper home loan loosing leverage?
  • Is there any legal leverage to give them 60 days and tell them they have to vacate?

Would appreciate any past experience or opinions