@Brendan M Hornung what's the long term goal of this person?

In that case, return the rent to the old tenants for the last 10 days of the month and collect that rent from the new tenants.If the paperwork they signed said that the deposit is non-refundable if they do not move in, then keep the money. 

Hey Eric, I brokered apartment buildings for the last 8 years.

To make an informed selection, examine your long-term goals, overall expenses, property condition, and market competitiveness, talk with a mortgage expert, and investigate house hacking options.

Purchase price: $199,000 Cash invested: $40,000 Long term rental What made you interested in investing in this type of deal?

@Mike HaworthIn situations like this, I also skip-trace the residents on either side of the target property.Those close neighbors can be a goldmine of info on resident history, any recent comings and goings, and last known contact info. 

I mean, I'm gonna rent em and take full rent's but hey, long as I'm almost paying your rent it's ok, right. 

Most S8 tenants have credit scores under 580, so that's not really going to help.Maybe if you checked 36th District Court records for any landlord-tenant issues...If the seller (or their PMC) actually did a Verification of Rent (VOR) with the tenant's last 2 landlords, you might find out they left a lot of damages when they moved. 

The specific location ( 4' * 6' long) is underneath a guest bedroom window in the front of the house. 

The software in the lock and on their web site then uses this matching code as a hash to generate guest (and/or long term maintenance or housekeeping) codes based on time/date/duration.It's a really brilliant system, and one of the few that I've found that don't require Internet access or monthly fees.