Purchasing Home with Tenant

[Kevin Wembes]

Hello everyone!

I was thinking of purchasing property in TN Memphis and found a great location, the numbers made sense, the rehab did not seem too bad at all! But it had a tenant current living in the property and the past owners did not have a rent roll or ledger to prove payments, because their system shut down so I backed out of deal. What would you guys have done in this simaliar situation? Additionally, do you guys believe there was a better choice than backing out? Thank you guys! I just wanna get some tips for future simlair situations. I do live in California and had property management who told me to get proof of payments before buying. 

Thank you.