All Forum Posts by: Patti Robertson

You need to know who pays the utilities and what the lease terms are.  A complete rent roll should give you that info.  The good news about SEC 8 is that if the tenants have been there for more than 12 months, you can request a rent increase, even in the middle of a lease term. Don't be afraid of existing tenants.  They will make it easier for you to get started.  NOTE - You can ask for prorated rents for the month you buy in, since the seller would have already received them.  Your first month's rent will likely be delayed til your second month because you will have to file paperwork before payments can be redirected to you. Be sure to notify the SEC 8 office of the property sale so they can stop payments to the current owner after closing.

Good luck!  I'd love a duplex built in 2000!