I'd also talk to the current owner, so if they want, they can let the tenants in that unit know.Hopefully you are getting their deposits transferred to you (it is the tenants' money and you will have to pay it back in full when they go because you don't know the condition of the unit when they moved in). 

I am a Private Investor or Hard Money Lender.

They need to sign something acknowledging that they are giving up their rights to inhabit the house in exchange for money.

I make good money, and recently left the military. 

@Ethan GidcumbLenders will not and here is whyTake a $200k property needing $150k renovation and arc is $400kLet’s say lender will lend $325k - they are not giving it at closing - there will be construction draws as I have seen borrowers take money to use on other projects and then lender is stuck holding the bag until he sues on the guaranty and goes after the borrower

(I heard that 1% - 2% of the purchase price is ideal).Where does the earnest money go, when all is said and done?

Buy property and hold onto it forever.If you listen to YouTube gurus that tell you to borrow money from other people, max out credit cards, or that you can buy 50 houses in one year, then you get what you deserve.

Your forms and E & O often come from your brokerage, and if you sign on with a firm with a reasonable co-commission rate you won't be giving all your money away.

I'm a multifamily analyst for a bank that originates all sorts of real estate loans, and I am looking to connect with people that have a passion for real estate and money.

We tried two MTRs and lost money - won't try it again.