The type matters and their plan on acquisition and exit strategy.  

I’m planning to buy an investment home that is already rented.

Mind providing more clarity on the asset you are purchasing and the overall business plan with making it perform? 

We also plan to have a performance deed that will help protect me in the event he defaults and the property will be handed back to me.

They did give you info that they love your place, plan to stay forever, and accordingly you should increase the rent $250 per month if allowed by your local laws for the aggravation of dealing with them. 

I plan to buy, rehab and refinance.

Won’t reveal cash out plans but just go through purchase scenarios.

I am under contract for my second duplex, and am thinking it will be time for me to begin hiring out lawn care, as I do not plan to have means to transport equipment between properties or dedicate time to a low value task.

Will they also provide you with comprehensive tax planning? 

My thought is to approach her by saying that my original plan was to purchase the property and convert her unit into Section 8 so that I could get the $3,200/month rent -- but since she's a long term tenant, I would be willing to forego that plan and tell her she can pay $3k/month to stay.What are your thoughts?