Inheriting Tenants, Help Needed

[Sahil Relan]

Hi All,

I am about to purchase a 2-unit property in Chicago for 100k. It is an REO so I am not getting good responses from the seller. Here is my concern:

The property is already rented. 

a. The seller says one of the unit is occupied by tenants who get CHA assistance for 75% of the rent. 

b. The second unit is cash MTM tenant. I am worried that the second tenant might not be paying etc and I dont want to deal with eviction since it will be my first RE investment.

What do you suggest from your experience that I should do?

I am still in the 5-day period for the contract. What can I ask from the seller like receipts for rent paid etc?