Though they are supposed to ask before making any changes to the property they did not.

Just bought a multi-family property and have a tenant group paying $300-400 below market with a dead-basic 1 page written lease about to expire but claim to have a 12 month verbal lease extension with the previous owner at same price...Rents are low (about $1450, should be 1750-1850) and I want to raise them but they (and seller) claim they agreed to another 12 months, which is supposed to start in about a week.For emphasis, there is nothing in writing regarding an extension.Furthermore, none of them were screened by the seller (I think they'd agree to a background check).I want to do some repairs including painting and remodeling if they agree to an increase, but don't feel it's justified at the low price they are currently paying.Your thoughts are appreciated!

He is not SUPPOSED to have any options!...

I'm supposed to be taking my class in August.

I suppose that I might pay less taxes?

You get the idea.Fannie Mae technically has no issue with that kitchen.Let's suppose the kitchen isn't quite complete.

You might put it in your offer for the seller to pay it but it's customary for the buyer and seller to split it so that might not work.I suppose you could ask if there is any seller-financing possible with a lower down payment but in today's competitive market I'd bet that's a non-starter.

I mean, I suppose everything is for sale right?

However, I am greatly concerned.  1) I am supposed to take a long passed-due vacation in a few months, and 2) Spouse just lost their job, so with these two things in mind things in general have become quite tricky!  

His brother might end up living in the garage of the house he is supposed to be renovating making the local police and regional building very unhappy.Mike