Buying into a Tenant Occupied Property..
I've heard stories when other investors will post properties and advertise it's cash flowing with a tenant already in place to entice others. I just so happen to be pursuing a property that is out of town in which I haven't seen in person that supposedly has a long term tenant. When running the numbers, they fit our criteria. So we're like why not.
Are their contingencies that can be added to the contract for escape clauses contingent upon a tenant being in place already?
Also when reading more on the property, states minimal damage repairs needed for cosmetics and what not, without having seeing it in person, would this be risky to purchase even after the numbers still cash flow or are their certain escape clauses you can add in there for unexpected cost that the new owner will have to incur keeping the tenant in a safe environment.?