Just closed on my first multi

[Adriane Boggs]

I just closed on my first multi family. It consists of 2 one bedrooms and 2 two bedrooms and currently has two tenants in one of each. Leaving two vacant. Neither of these tenants have leases.

My question is how to proceed with having them sign a lease? The building needs cosmetic updates so my plan is to keep them there while I'm updating the two vacant and I think it will take me two months. Then do some type of non renewal or cash for keys when it's time to update the two occupied units. Then I can screen my own tenants and fill the building and complete my BRRRR.

Also the biggest improvement I’m doing is new windows in the entire building. What is the best way to go about this with my tenants?

TIA for any advice.