A dirty broken down washing machine is a big turnoff for prospective renters and even current renters might think you don't care about them.

I was doing some prospecting and came across a property the owners ( an investment company) was willing to sell me for $1.

Put yourself in the shoes of prospective tenants and the number one thing for them will be location.

Analysis:Rental of the Property Applicant Occupied Prior to the New Loan Use the prospective rental income only to offset the mortgage payment on the rental property and only if there is no indication that the property will be difficult to rent.This rental income may not be included in effective income.

At Duval Homes Real Estate we complete thorough background checks on all Prospective tenants.

@Seth Borman's comment regarding cash for keys is a great option to keep the rent controlled properties as prospective investments.

@Yi Lin, "they" don't tell their prospects that their offers will be so ridiculously low, that they'll be able to afford to pay any and all closing costs themselves!

I’ve thought of billing back the tenant but I wouldn’t want my rental to be one of the few that doesn’t include it and then lose prospective tenants.

I am still going to screen them as if they are prospective tenants and if there are no red flags, I will keep them.In your situation, I would talk to the tenants and the seller to find out more info.

Just to update:  We offered to screen the prospective tenants & sign a new lease if they passed screening.