We spent about 3 to 4K for a lawyer to prepare all the paperworks for us.After purchase, they paid monthly interest for year 1, then they don't keep their commitment and run away. 

@Michael Ulrich Test drive the tenant before committing them to anything longer than a month to month especially if you end up raising the rent. 

I made the commitment immediately after joining a webinar hosted by Brandon Turner (How a Newbie Can Start Building Wealth Through Real Estate).

They will be worried that they will be dislodged and could be feeling defensive and ready for a fight if they think you are going to come in and kick them out.In terms of the lease - normally you would be deciding about whether to continue the current tenants before offering as this will probably be specified in the contract you have signed - it is in FL where I operate so I would check to see if you are already committed to the tenants in the standard contract - there's a clause about transferring current tenant leases normally.Normally the lease they have signed will transfer directly to you as the new owner - you need to check with your Realtor about your state's law to know for sure what your rights are but in FL you can if you choose transfer leases at closing - or specify that you wish to alter the lease upon title transfer so that may be something you need to resolve swiftly...I hope this helps in some way and again really well done!

Committing to this, I firmly believe, is the only way to make running a limited portfolio of properties like these profitable.If I were a twenty-something working in software in the Bay area, on the other hand, this would not be realistic.

About 44% of all felons commit new felonies after serving their time which means you've increase the risk of criminal activity on your property by 36%. 

The the POF letter is not very committed so it would be the soft POF that you mentioned.

Relationships and networking are key...don't commit too much until you understand who they are when they are sad, mad and glad.

Nevertheless, I am not deterred and even more committed to succeeding in the RE investment field.

ie on Cash a full letter/commitment from the attorney stating the funds will be available 6/16.