Look at the tenant mix (probably a lot of personal service types in that area), how many times they've renewed, length of the leases etc.

I would make sure you get a propr mgmt certification to make sure you know EVERYTHING about service dogs, marijuana laws, eviction info, how to handle all tenant issues, like them vacating before their lease is over, tenants not paying rent or causing a neighborhood nuisance, etc. 

He also stated the following "You must have good proof of why you are not renewing the lease.

In addition, once you've freed up your equity in your current home and invested it in income-producing real estate assets, consider applying for a couple of FHA multi-family property loans (4 units or lease) which have competitive rates and low down-payments (3.75% at the time of writing this). 

Tania, my partner in the second one ended up putting the home in his name until I get the other home leased and complete my refi.

Do you know if the current tenant is on a month to month lease and if the current owner has a way to show a history of timely payments.

SchaubHow to Make a Million Dollars in Real Estate – Brandon Turner The Millionaire Real Estate Investor – Gary KellerMaking Big Money Investing in Real Estate – David Finkel (Sandwich leases)Landlording on Autopilot – Mike ButlerHow to Manage Residential Properties Brandon Turner Book on Tax Strategies for the Savvy Real Estate Investor – Amanda HanSet for life – Scott TrenchE-Myth Revisted – Michael Gerber HOLD – Gary Keller The list is a culmination of self-development, business and Real Estate Investing books and I'd like to get a sense of which books on the list are more of a priority.

Get a rentroll, leases and financials and have an inspection done by a licensed inspector.

A Lease with Option to Buy is another method I am considering.

I have hired a 3rd party PM company and plan to reclaim the on-site PM's unit and office as two units for lease.