If you don't meet these conditions, then the seller needs to withhold the tax (known as FIRPTA) which is now 15% if the sale is after February 17, 2016.  

Then they would be locked into the same terms and conditions that the original tenant is.

With good screening and some luck you can minimise rental losses, and if you only buy good units in good condition you get a better tenant.

What is the condition of the property compared to the one that just sold?

They are in awesome condition and all are being rented out for $500 a month.  

Dante,There are some elaborate ways of de-duping a list in Excel, but a quick way is to use conditional formatting to highlight them, then you can manually delete them.

But caveat.I would only do them under the following conditions.1. rehabber is personally known to me and is very very experinced2.

If you are buying several properties I would strongly urge you to go to the location and look for yourself to determine neighborhood and condition. 

Plus you need to see the comps from the MLS,if any from a good real estate agent to determine what the property is worth now and after you make repairs and improvements.Equity is determined by the amount of money owed to the bank and what another person is willing to pay for it today in " As Is" condition.Get a good contractor to walk the property with you to determined the current physical condition and what it would take to repair and decorate it to modern standards and bring it to its full After Repair Value.

It is listed in the MLS, though.We're going to see it tomorrow and make a cash offer of $70-85k depending on the condition of the interior.