Seeking advise for first time homeowner.

[Account Closed]

Just got my first deal offer accepted today bronx Ny. Im doing house hacking two family.2 bedroom over 2 bedroom plus basement with separate entry. Using FHA loan. When I went to wiew the propert, I didn't like the way the existing tenant is living in the apartment. The apartment was very disorganized. The seller can not deliver the property vacant because his least expires March 1, 2020. I could be wrong but my first impression is that I do not trust that he will pay the rent in a long run and keep the unit clean. How do I handle something like that? How do I collect rent from him? I am going to manager the property myself. Also my realtor recommended a lawyer and inspector to do inspections. Should I use his recommendation or look for my own?

[Thomas S.]

If you are going to be a landlord you can not be anal. After you own you decide if you want to keep him for the duration or attempt to get rid of him if he is in violation of the lease. Disorganised is not grounds for eviction. That you will have to live with.

If you do not know how to collect rent you have about 6 months to a year of intensive education in finanes and income property investing before you ever consider investing in a property. This is extreamly high risk and not advisable for anyone that is not fully educated in advance.