Purchasing a property with a tenant currently in lease in place

[Kevin Layton]

I am in the process of determining an offer amount on a house that I have been given an opportunity to buy from one of my customers (I own a remodel company) I also have 1 current rental property. My problem is the current tenant has a lease that is good until October 2020 and the amount they pay is below rate. They pay 800.00 and the home should be renting for 950.00 monthly. We can purchase the property at a good price but for a year there will be negative cash flow because of the current lease. Any suggestions on creative ways to approach this purchase.