Buying my first rental townhouse

[Iris Y Tang]

I like this townhouse, but the current tenants' lease expires on 8/31/2020, and the total rent is lower than the current market rent for $400-500.

One of the tenants is also trying to buy the place but has been making lowball offers, so the townhouse has been on the market for more than 200 days.  

There is a moldy futon in the basement, and it may be one of his ways of trying to scare off any potential buyers

[Cassi Justiz]

Hey @Iris Y Tang, 

If the tenant is not being cooperative, then yes. You may have to deal with an eviction. I would look into the tenant's payment history to help you determine that. 

I would also make sure you are purchasing based on the assumption that you could have to evict, and you will probably need to do a full make-ready when he finally does move out. You will also be going into the fall months which traditionally is one of the tougher times of the year to rent. 

Don't let that deter you, but just make sure you have the numbers on your side.