Buying My First (Already Occupied) Rental

[Pablo T.]

Hoping to benefit from some collective wisdom and maybe avoid problems from things I don't know I don't know.

I'm in escrow for a single family residence that's located 3 miles from my home. It's occupied with tenants on a lease till the end of November. I'm buying it with the intent to move into it after their lease is up. They're paying below market rent, but it will cover my current monthly payment and leave a couple hundred extra. I'm waiting for lease financials but sellers state the tenants pay rent on time.

I plan to manage the property myself, so will end the current owners' agreement with their property manager. 

I'll want to do some general maintenance, fix what needs be fixed (there is a detached workshop/garage building that may need some attention), and improve the landscaping during their tenancy. I'd like to do most of this myself, but wonder if there are any issues I should consider RE tenant privacy/quiet enjoyment.

I'd appreciate any feedback and tips on what I should look out for or consider.

Property is in Modesto, California.

Thanks

[Pablo T.]

@Michael Robbins taking on the tenants is part of the deal and priced for it. A risk I’m willing to assume if they’ve been current and not candidates for the moratorium relief. The deal is contingent on my satisfaction with the tenancy. They should provide employment info and credit check too, right?