My long-term tenant wants out of his lease due to his adult son passing away.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

It also allows potential tenants to sign on to complete the background check, and also has options to electronically send the lease to the tenant. 

You'll need at least a 20% DP to purchase the next primary, and probably a signed lease proving rental income.

As a new landlord, familiarize yourself with tenant laws and have a solid lease and screening process in place to protect yourself.Be prepared for maintenance expenses by setting aside funds, and if managing the property feels overwhelming, consider hiring a property manager to handle day-to-day tasks.

The only documents we have would be a signed lease, and tenant ledger.

It requires a lot more work, follow up, and it's necessary to have systems in place to support the tenant vetting, rent collection and creating lease agreements.

As for the leases, would you recommend keeping the tenants, potentially raising rent, and extending the lease to a long-term rental, or would you recommend finding a new tenant? 

There really aren't any agents that do just leasing for people of residential homes 

Primarily rented to military- never had a problem, required to end lease or evict.