Let them know you're the new owner, that you will be abiding by the lease terms they currently have, give them your info to be able to make payments, any website/payment portal platform.I would keep it short and sweet.

You can definitely integrate Zelle/Venmo into your systems but there's easier ways. 100% agree with this explanation BUT I think there is a sweet spot not mentioned. 

Sweet.

Quote from @Eric Prescott: Yes, I understand that appreciation often means less cash flow and good cash flow typically means weaker appreciation, but there is a sweet spot where there is decent appreciation and sufficient cash flow to cover expenses so that the property pays for itself, and that is what I'm honing in on. 

But first let's find the sweet spot!

Was it short and sweet?

The pricing, seller's vibes, location all made it seem like a sweet deal.

The short-and-sweet responses to your post:1. 

Lastly, unless you're married to this particular property, you should keep an eye out for other properties that just might be as sweet a deal.Also, about the HELOC, once it’s funded, those funds can generally be used for any purpose but double check with your lender JIC.

I have found the sweet spot to be $150K-200K.