Hey guys!

Very excited to have purchased my first investment house!!

The numbers made sense. It came with tenants that I met. They are currently living there until next Novemeber and hopefully longer.

How does that work with the current lease?

Do I have them sign a new lease or do we all just initial the current lease?

How do I make sure the water and electric bill are all in their names?

Can they put it in their names?

Any common mistakes I could avoid would be greatly appreciated!

Thanks for all your help!

SOOOOO Excited I finally pulled the trigger!

Hi Mitchell, Congrats on your purchase!  I found your question while I am searching for the same answer. I am in the process of buying an up/down duplex with one tenant  in the second floor.  I am wondering what to do about the lease and the water and electrical bills as well.  Also wondering what to do about deposits?  Would love to see hear much you have learned in 10 months.