Especially interested in implications to others on the lease, security deposit (they also have a pet deposit), etc. 

Worst case is 1year and if your willing to lose your deposit you can leave any day you want.  

Any money-deposits, advance rents etc are yours at closing.

My employees who was at the deposition hearings said the plaintiff attorney was shocked and dismayed to learn he moved to FL., banged on the table on hearing that, and gave up afterwards.

Look through the lease (hopefully there is a lease) that they signed with the previous owner, if the lease seems to be decent and everything is documented like it should be (security deposit, move in checklist, etc) there is a better chance if the tenants are better quality. 

Some things I wanted to implement such as asking for a security deposit (in the estoppel there stated that there was no security deposit given to the previous landlord, and changing the parking spots).

Pick an asset class: Class A, B, C & D properties, research pros & cons, pick one to focus onPick a real estate market that matches your resources & goalsContact local agents & PMC’s to start sending you listings to analyzeAnalyze a few deals weekly, get comfortable with the market and refine what you're looking for

Honestly was going to sell home to get cash injection for business but we were approach by agent who had a tenant that was willing to rent for 2300 a month and pay two months in advance plus deposit .

And Deposit is only $10,000.

You should also get Estoppel Letters from the tenants that verify the current state of their tenancy and if they have a last month's rent or security deposit being held.