BRRRR currently occupied with tenants

[Adam M.]

Looking at a BRRRR with tenants leased till end of July 2017 in a college town and in a solid rental neighborhood. So would need to get tenants out and have enough time for rehab, releasing, and occupied by August. Given this timeframe I would likely try and structure the deal as follows.

• Deal is contingent on tenants leaving May 31st.
• Closing will be 3-7 days after tenants vacate.
• Offer tenants full security deposit and half months rent to terminate lease.
• possibly offer discounted rent to release in August.
• Contingent on financing.

Obviously there are a lot of details left out. What are you thoughts?