Transfer of Tenants....?

[Rudy Hayden]

Hey guys.  I am scheduled to close on a property that has 3 doors/3 tenants.  These have been long term (1 tenant has been there 38 years) tenants.  Currently all 3 leases have expired and they are living there month to month with very little security deposit.  Each of the tenants are paying well under market rate for this area.  Here are my questions.

How should I structure the lease agreement in advance of closing?

What else should I be considering to make sure I due my due diligence and are ready to roll once closing happens?

Thanks so much in advance for your help and consideration!

Have a great week guys!@