Off-market with current tenants

[Mike Shearer]

Hi All,

I have an opportunity to purchase 2 off market properties SFH at a significant discount. Comps support and the asking price is very fair. My hesitation is that the geographic area isn't ideal and both properties have tenants on a 5 year fixed rate lease (with option to renew at same rent). I know the owner and he has a big heart for people, but I'm nervous about absorbing these leases and tenants as it stands. The play is much more for cash flow then for appreciation, but buy and hold is the target strategy.

Curious how others handle this type of situation? Or advice you can give.

Thanks!

Mike