Hey BP,I’m trying to house hack in a very competitive market where multis at a reasonable price in safe areas are few and far between.I am moving to said area in late July and will be there for 4 years. I have signed ...

I am looking for some guidance on inherited tenants in Florida and would love to hear back from anyone who has any experience with inherited tenants.I am getting ready to close on a fourplex in Jacksonville, Fl that I have been living in for the past year while waiting for the current owners to sort everything out with their lender.

@Terrell Garren I inherited both of these tenants, unfortunately - they were here when I bought the building.

They rationalize it ~Rational -lies.Often they use of the myth of the poor stupid seller that has been living in the Himalayas as a hermit for years and suddenly inherited a house, and because the hermit never heard of Zillow or Real Estate Agents, falls victim to the evil wholesaler.Conclusion: Be a person of integrity, but don't be fooled by or discouraged by the phony ethics police because they are either frauds or ignorant or both.

When we inherit month to month tenants at under market rents, we advise them of a rent increase schedule. ie, $30 increase 2 months from now and then 6 months after that another $30 increase.

I have inherited tenants before, but never had this situation where they were not the original tenants on the lease.

The only draw back with investing first is it will throw off my debt to income ratio and will lessen the amount I can finance for a primary residence.

Divorce, inherited properties etc....

Kids inherit the money or the property.

I'm sure there are tenants out there who do not work but have inheritance or something which can afford them a decent rental.