So looking into duplexes around my area I see a handful for sale with tenants already in place, and what seem to be decent profit. maybe 300-500 dollars a month? Thats based off rent income vs what I pay for the property. Whats the problems of taking over someone elses tenants? why would they be trying to back out of a property making them good profit? what are the questions to ask and things to look out for and be aware of when having a MF property and taking over from someone else?
@Brandon Rich Seems like you are only looking at PITI vs rental income. You still have utilities, capex, maintenance, It's not as easy as "my mortgage is 500 per month and rental income is $1000, I have $500 profit." I advise to do some more research and/or read Brandon's book about rental property investing.
Just because an investor is selling a deal doesn't mean it's a bad one they're trying to dump.
Many times they have other goals and may simply be doing a 1031 exchange into a larger property.
Seems that alotnof these also have tenants paying their own utilities. so it looks like the only other costs besides mortgages would be maintenance and repairs and PM.
Capex is not a term ive come across yet. still reading through the beginner books given freely on biggerpockets so it may be in there still.