Some states require a 60-day notice.BTW, I now include in my leases language that stipulate that if the current lease expires without the tenant signing a new lease, that the rent increases $200/month and becomes a month-to-month lease. 

They accepted our offer because of this stipulation, even though there was an offer for a higher price.

Granted, there's certain stipulations that would have to be met, but the current one I'm using I get 3% on up to $10k.

If you are the buyer, offer to pay for the title costs, if agreed to, stipulate in your contract that your attorney shall act act as the title agent and has the right to collect all title premium.

Your atty should have also request a copy of the leases.The sellers will resist your request to remove the nonpaying tenants, but depending on the contract and your atty review stipulations they might not have a choice.

Hey BP question:Have you ever purchased a investment multifamily property with a 3 year must owner occupy stipulation demanded from the city?

If you buy a HUD home, are there any legal stipulations that would prevent you from turning it into a rental, or anything else that would hinder an investor?

What does the actual lease stipulate for notice?

Your specific lender may have other stipulations/restrictions on the loan, so you'll want to read the contract.

 The purchase agreement should have stipulated that rents would be prorated based on the day of closing and that the security deposits would be transferred to you, along with keys, copies of any written lease agreements, tenant payment records, the original tenant application, etc.