Reason is, you really reduce the chance of jerking around a homeowner and lessen your chances of getting in trouble.

Hello, If you purchase a house that comes with tenants, is it common to have them sign a new rental agreement with your conditions? Or do you have to wait until their lease is over to do so? Thanks!Anja

Hello BP Nation:On MF transactions, Sellers often will carryback a subordinated note (junior to the bank note) in order to lessen the upfront capital requirements of the Buyer. 

I bought my first rent in 2011 when i was 21 years old i now own 4 properties and recently inherited 4 properties from my father. my future goals are to expand my portfolio with more multi family units while also setting up processes that allow me to continue to work full time or even part time.

They've owned it for years and probably inherited the property. 

For all I know, both could have passed (reason for the vacancy) and inherited by the kids.  

My 23yr old daughter inherited a maintenance guy at her 6-plex/farm.

Surprisingly many of our best absentee deals have been inheritance or parents who have purchase properties for their kids and now need to sell.

Since you inherited the tenant then more than likely whatever he was permitted to do by the previous owner, written, unwritten but with a handshake, you are stuck with. 

I inherited a tenant that has requested to pay her rent in portions; i.e, pay half on the the 15th and the remainder on the 1st.