Hi guys,1) Do I understand it correctly that if I owned a property for 27.5 years and cant claim  depreciation on that property anymore, If I refinance, I can start claiming depreciation again? Or2) If I sell this pro...

Before he left, he said he was completely fine with this transition since the lease needed to be renewed for the year anyways.

My initial idea was to give them notice as soon as I closed on the property but with NY state tenant friendly laws I decided to renew her lease even though Section 8 was only offering below market value.

When is the current lease up for renewal?  

I foresee a non renewal in their future but I see both sides of this one.  

Getting a one year lease puts you back at the wheel for potential non renewal if needed.   

If the lease is month to month it shouldn't be hard to tell the seller to not renew the lease, due to your FHA loan needing to be "owner occupied."

Do I just have to send notice to the existing tenants within a certain timeframe that I will not be renewing their leases? 

@Nick Peralta, so your renewal date is coming up.

I got renewal quotes on 2 of my investment properties in Tampa this week.