Acquiring someone else tenants through new purchase

[Erica L.]

I finally made 2 deals... in one week!!!! WOOOHOO!!!  :)

However, the one is a duplex and I'm super weary of acquiring someone elses tenants. The place looked clean and taken care of - but if they don't pay, I don't really care how good they take care of it - they need to go. I asked for proof of payment and the current owner gave me Venmo transfers into their bank account (NOT VENMO TRANSFERS TO THEM FROM OTHERS). It sounds like there hasn't been default payments but as of now, thats word of mouth... and their lease is only one page -  I asked for better proof but they haven't gotten back with it yet.

Needless to say, one is on a month to month and the other ones lease expires in September 2021. The property is in NJ where I believe there are eviction holds in place. If they're not willing to sign a yearly contract under my terms (the current lease is one page!), can I immediately give notice to vacate to the 'month to month' renter.... and what can I do with the one thats lease expires in September? Honestly, the rents are under FMR and I can def value add to both units to justify the increase in rents - would probably need to find new renters though.

Never acquired renters, please advise... :)