Like how long they have been there, do they have a lease, what maintenance did the former owner do, what have they done, do they want to stay, what are they paying for rent, did they give the owner a security deposit or lat months rent.They may have plenty of questions for you and you may want to be vague about how you answer.It is rare that you get to speak to the current tenants and even see the property before foreclosure You may end up being held responsible for any security deposit they will claim to have given to the former landlord.If you do purchase be sure to advise them immediately and end any tenancy, get them a new application so you know exactly who you are dealing with etc.

I have been researching and exploring the real estate market for the lat 2-3 weeks and I am really looking forward to getting started, but I do not exactly have a plan right now. 

@Sam Ng, I'm not an accountant, so you really should be consulting with a professional on key questions like this.

I have used this strategy twice, and with a the help of appreciation in the lats 8 years, I have done very well with these.

Hi @Rich Ng .There are two ways to tag people.

I agree with @Rich Ng - keep it simple.

Had I not been experienced my most recent purchase looked like a dog with $12K in heating expense, it's been under $3k after a new NG boiler. 

I would have never known I had that credit unless I had called in because NG certainly wasn't going to go out of their way to inform me.  

Thanks @Harjeet Bhatti and @Michael Ng

thanks @Cody L., at 190k purchase price the cash on cash would be 20%.