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Updated almost 5 years ago,
Lease agreement (big) discrepancies
I have a fourplex under contract. (Yes, I am a newbie...). 100% tenant occupied. Seller reported all long term unexpired leases and gross annual income $44,280. I received the lease agreements. Two are expired. Rent amounts are all different than reported, but not much less. Gross annual income reported on their Schedule E is $6,864 (Not a small difference!). I'm going to speak with the tenants today to find out what I can.
Can anyone give me advice on how to proceed?
Thanks in advance :-)