If they don't agree, then you'll have to wait until the current lease expires and then move them to your new lease.Read the existing lease closely.

You can always just increase the liability on your current carrier.

The current owner is letting me take over the property as a tenant as long as I pay the water bill and the mortgage payment on it and whenever I decide I can purchase property for the balance of the mortgage  they are in no hurry for me to purchase the home as long as the mortgage is paid. 

There is a case for buying well-located solid assets that produce immediate current cash flow at reasonable leverage. 

I'm currently a college student, so I don't make a lot of money.

If i use 2.5% long term CPI and 75% LTV, the return from appreciation on a new purchase would be 10% or double your current return on that equity.  

Are you saying the current property being exchanged has a debt of $200k and you need an additional $200k to purchase the new property? 

Current rate is 5.75 and credit scores are around 750.

Now my first property currently has a tenant that is not paying rent, so we started the eviction process.

The sellers says it's just college boys and that's to be expected.He's currently getting good rents...as unbelievable as it may seem and if cleaned/fixed up it could make more as well as increase the value of the property.We own several coworking/coliving properties in the US and Mexico, so we are used to hospitality and properties out of state.However, my questions are;Is this a norm for college students, or student housing?