Hello All,I am in attorney review on a property.There are existing tenants with a lease expiring 3/31/21.I am told that the existing tenants are currently looking for a new place and will be moving (no move date was provided).I have a copy of their lease, it seems to be in order and a decent lease.I wanted the property delivered vacant as part of the deal, so I could vet and choose my own tenant.Delivering it vacant is not something the seller can commit to because we are in NJ and also the pandemic (the tenants are entitled to renewal).I have asked for the following seen as though the property cannot be delivered vacant;-A copy of the current lease (I received this).-12 months of trailing rent payment documentation proving that the rent was paid by the tenant, in full and on time.I am considering requesting an Estoppel letter documenting all of the details that would be signed by both the tenant and the seller.I feel like the decision to take the property will come down to if I am willing to take the existing tenant or not. 

Give 30 days notice to your tenants that you will not be renewing under the current lease.

I will never hire a PM for single family rentals again, but also have friends that have had great experiences.I would approach all investments as if you were going to hire a PM, to make sure the budget allows.  10% management fee, one month leasing commission for new leases, 1/2 month for renewals, and 10% premium on all construction costs are typical in management contracts.  

Can I offer to only renew the lease for her?

Give them the proper notice that when their lease ends you do not intend to renew it.

You are not kicking someone out, you are simply not renewing the lease.

Different articles have already described it as the fastest way to obtain Spanish residency, which a priori would be for 2 years, and then renewing for 5 and then we would obtain permanent residence.

Could somebody please share  the Early Lease termination and Lease Renewal clauses for the Lease Agreement.

You could save about 40 percent of the full bid if you pieced it out.Hire a handyman to demo.Ask your handyman if he can do windows, doors, sheet rock, tape and mud, trim work,painting, tile work, hang cabinets, install vanities, etc.Ask him if he has tools, tile machine, compressor, hand guns,  Sometimes handyman are old General Contractors that didn't renew their paperwork.Hire a framer to remove or add walls and new rooms.Hire an electricianHire a plumberHire a sheet rocker and mudderHire window company or handyman to install the windowsHandy man can also do so much .Make sure the electrical and plumbing is done right.Most states allow $2000 of work for a handy man. 

I prefer smaller firms, especially those that charge a flat PM fee vs charging a flat rate plus lease up, renewal and other fees.