I'm not from that market but I challenge you research and read about STR, MTR, and LTR in that market.

The owner has a personal property manager taking care of the property Should I do anything with the tenants or property manager prior to closing? 

Good read. 

Find them through Google and meetup.comTwo Great reads, I bought both J.

I am currently reading BP books to learn everything that I can to become successful and look forward to all of the networking potential on this site.

And also this... the tax courts have allowed rent for family members to be discounted up to 20% under fair market rent because it's reasonable to accept a little less from a family member who might likely take better care of the house (reference: Bindseil v.

The REPS-9 election prohibits grouping short-term and long-term rentals, emphasizing the need for careful strategic planning.

I am new to real estate investing and am reading lots on the subject.

I have my real estate license but have read that you will need a brokerage license to own a property management company or work under a brokerage.

They may also challenge the sale (maybe they weren't properly notified.)I suggest you read the tax sale laws in your state.