Rental acquisition but has high risk problem tenant.

[Patrick Squires]

Is there any way to fix this? I have a 2b SFH buy and hold rental acquisition under agreement to add to our rental portfolio. Were talking our "target" kind of property that has our attention with strong rent potential and minor changes to achieve much higher rent. Issue: While in inspection were discovering there is basically a rookie landlord with a bad lease agreement with bad terms and hot issue - a minor but mishandled mold remediation and all sums up to a really unhappy tenant. Tennant is under lease for many more months... Obviously the opp. is the owner wants out of being the landlord and the mess they created. My gut says to walk... too much risk with current tenant history... but part of me wants to explore if there are ways to fix the situation and acquire the property without risk somehow.... Any ideas? At this point I feel I cant move forward without some way to reduce risk or change the situation entirely. What creative means could get this done?

[Kyle Mccaw]

My advice is to see if the tenant wants to leave. Let them out of the lease then fix any problems. If they are unhappy logic tells you they would want to move.