Inherited Tenants for new Rental

[Web A.]

Hey BP. I’m considering purchasing a duplex that currently has tenants that recently signed a 1Year lease ( Ending in 1/2021). The current tenants are paying $400 below market value. I’ve never inherited tenants before. Am I obligated to honor that lease and keep them as tenants for the next 11 months.

Would I be able to change the terms of the current lease? Am i able to have them sign a new lease with myself with new rent prices? Is it customary to request background info, credit checks, past evictions, etc of the tenants before I buy this property.

What are your thoughts BP? 💭