To-do list for taking over property with tenants - NEWBIE Help

[Matt Bailey]

I will be a NEW GREEN landlord in a few weeks.  I am buying a triplex with tenants in place.

What do you wish you would have learned before DAY 1?

What should I be doing to prepare?

Pitfalls?

Mistakes you wish you had not made?

Do you make the tenants sign any agreements when you take over?  Or just stick to the existing lease?

Do you make them aware of your rules?  And if so, do you make them sign anything?

Newbie appreciates your help!