Things to consider when buying a property with tenants

[Saurabh Kukreja]

Hello Everyone,

I currently own a property in the 38141 zip code and am considering purchasing another one. My experience with the existing property has been mixed, with challenges such as missed rent payments and evictions. Now, I am getting into a deal for a second property, which is already rented out until March 2025. The numbers for this property look promising on paper.

Although I am not particularly fond of the street view, this new property is located in the 38128 zip code, near Raleigh Cemetery. Is this considered a good block in that area?

What steps can I take to ensure I am making a sound investment?

I've requested a ledger from the owner to verify the tenant's payment history, but I'm aware that documents and screenshots can be falsified. How can I confirm that the tenant is paying on time and properly maintaining the property?

Would anyone be willing to check out the place (apart from a formal inspection)? I am willing to compensate for your time.

Thank you.