Have a strong lease with open, honest expectations.

Here are the properties that have interested me (not sure if either are section 8):Duplex built in 2002 consisting of 3/2 1050sq/ft each for $94,900Currently both units occupied with $670/month leases (not sure of the lease terms).New roof in 2015, new Central A/C units in 2013 and 2015.Outside looks good, inside looks clean with decent kitchens (basic L shaped) with laminate counters, tile floor in kitchens, what looks to be berber carpeting everywhere else.

What's the pre-leased figure?

So I inherited a squatter at closing.He was listed as “boyfriend” of previous tenant on lease I inherited from seller.Problem is that lease expired May 2018.The original tenant on the lease moved out on expiration of lease and i never met her.Now this boyfriend is late on rent.He’s technically not on lease.I’m planning to ask my agent to post a 3-day notice on Monday.But I’m not sure that even applies as technically he’s not my tenant as he never signed a lease.Has anyone dealt with this situation?

Omar - if complex is mostly occupied, do you renovate as the units go vacant, or try to end leases specifically so you can renovate? 

Hey Jim, what do you mean by Lease Options? 

I had to go through the process of signing a new lease, meeting the existing tenants, doing repairs, enforcing rent payment rules, violations from code enforcement and finally an eviction.    

Also, I would refrain from signing any long term leases on your current place.

The resident is on a month to month lease.

Review the financials, rentroll and leases.