Inheriting Month-to-Month Tenants

[Daniel Kramer]

A duplex I am looking at is currently occupied with two month-to-month tenants. I've read a lot about inheriting tenants, but nothing about inheriting month-to-month tenants. I'm not sure why, if they are both currently looking at buying houses or if the current owner was nice enough to give them an out if they don't like the new landord... No idea. What are some advantages or disadvantages of this situation? Would you try to get them on a 12-month lease after the first month or let them roll with their current situation? I want to be firm in getting things straight from the beginning but I also don't want to eat vacancy right off the bat.

Thanks!