With the lower tenants smoking downstairs, and the smell of their smoke wafting into the upstairs, we are concerned that smoke smell will turn some potential renters away.I know we need to honor the lease that the tenants were under before we bought the property. 

It offers a unique mix of growth potential and a conducive environment for investments to flourish.

If the total is less than 75% of the ARV, then I know there’s a potential profit of 12 to 15% of the ARV.

Josephine your situation sounds scary and frustrating at best and potential fraud activity at worst. 

I may be interested potentially interested Christian.  

You want to invest just to have a place to live and potentially offsetting your mortgage payment by renting out the vacated rooms or having x amount of cashflow in the future?

You are missing out on an opportunity to train your inherited tenants to pay on time (and potentially extra revenue) by not using an online rental payment option where you can automate your late fee collections.

My family thinks that I've totally lost my mind by buying this house, but they said the same thing when I bought my current home and I think there's potential. 

This will help potential renters make informed decisions and avoid confusion.Professional staging: Consider staging your rental property to make it more appealing to potential renters.

Before proceeding with the sale, it's essential to weigh these potential downsides against the benefits of a quick and straightforward transaction.