MultiFamily Live In, Rennovate with Tenants?

[Desalina G.]

Hi BP community.  We are a looking at a few 2 unit properties on the north side. I would owner occupy one unit.  Many of these buildings already have tenants.  I'm hoping you can help me answer a few questions that have come up for me -- In particular a property that has one unit vacant and the other with tenants. 

1.  What can I ask for to ensure there are good tenants in the building? I will work with my agent, but given the Covid eviction moratorium I'm a little weary.  

2. I know I need to notify the tenants in writing that I am the new owner.  Anything else you would suggest to ensure a smooth transition?

3. We would want to renovate and then move into the vacant unit. This would include re-doing the roof, replacing windows, some demo/replacement of kitchen/bath but no "major" plumbing/electrical.  What are the risks of doing this while we have tenants in the building? How would you notify them? Would you offer a rent discount?  My contractor said there would be noise during demo and possibly some periods without water while they replaced bathroom fixtures, etc.

4. How do you proactively address any potential issues in the tenant occupied unit?  The current owners have been cited by the city a few times for lack of smoke detectors and some electrical issues (cover of an outlet missing, etc.).  This was 4-5 years ago so I'm not sure if it was current tenants.  Would you do a walk through with the RTLO or another checklist to ensure compliance? 

5.  Should I just offer cash for keys or cash to break their lease?  Wondering if this is the less stressful route.  We could then move into that unit while the other was being rehabbed and have more time to check it out and address any issues, make minor fixes etc.