Some want the tenants in place as a holding maneuver while they decide their own exit...I have rarely come across a serious buyer who would require vacancy as a condition to buy.The few times I have, I think cash for keys is the most compassionate way to move everyone forward...But.....If you only just have the contract, they are not your tenants.

Specs on this house:  4 bed, 2 bath, "ugly" house, decent condition, needed new roof, we subsequently discovered a previously abandoned oil tank which seller had to remove.   

I would experiment with raising it at least to halfway between current rent and comparable rents in the area for the same beds and baths, amenities, condition, etc. 

One other thing, I also wanted to second Brendan's allocation of 5% for CapEx and Maintenance but to base it on the condition of the property.

Recently purchased a residential triplex on Grand Ave in Saint Paul and the garage is in horrible condition.

Also, buying in "as-is" condition is a huge benefit to the seller.

If you connect and PM me, I can share my document.Who's leaving and who's stayingDeparting tenant turns in keys and gives up all rights and responsibilitiesRemaining tenants take full responsibility for rent and the condition of the rentalSecurity deposit remains in place with you.

What inspections have been done, or conditions that we need to be aware of as we structure our offer. 

Things you'll want to get checked include: the roof, heating and air conditioning, plumbing, subfloor (check for soft spots), siding and skirting. 

Someone with asthma or other real medical conditions has less rights than someone who wants to get high and play with their pony.This is the disadvantage of rent by the room.