Need Advice on a possible deal - Please Read :)

[Blake Reynolds]

Hey BP,

I have two questions regarding a deal that I am looking into. 

1). The owner who is looking to sell is using the property as a rental and he is sick of being a land lord. If the tenants are still in their lease would I have to wait until the lease was over before I could evict the tenants or ask them to move out? Or are they protected by the current lease even if ownership changes?

2). I noticed when looking up the property tax info that the evaluation has gone done over the last 3 years. Is this due to market changes or could it be from the condition of the house getting worse due to the tenants not taking care of it or both?

On another note the seller says he would be willing to do a contract for deed on the property. Would it make sense to take a contract for deed and just wait until the tenants lease was up and then either rehab it or pass it on to another investor to rehab it then?