Should I be leary of buying house with Tenant's already in place?

[Shannon Fong]

I live in the MVA area. I came across a property in Baltimore County for 24K. It has one tenant for 5 years and a new tenant.  House is renting at around 1125.

Why would you any want to sell? Is this a red flag?  High rent; low selling price.  Maybe there is a lot wrong with the property? 

[Tyler Gibson]

@Shannon Fong There certainly could be something wrong with the property but necessarily. could be an older person ready to cash out and doesn't know what it is worth. Could be someone died and left it to a child that lives really far away and doesn't want the property. The reality is you don't know enough right now. Depending on if this is a MLS listing or something off market you could get it under contract do an inspecion and back out if it is too much of a project. Just make sure contract is contingent on an inspection. If you can't have the contigency of he inspection pay for an inspection prior to putting under contract. Going this rout will cost you a few hundred dollars but it will save you from getting in something over your head.