Updated about 5 years ago on . Most recent reply
Great deal on a duplex but not non paying tenants
I found a great deal in Washington DC on a duplex with tenants. The cashflow numbers work out at about $350pm per unit. However, I just found out the tenants were supposed to be evicted in March but are protected by the moratorium on evictions in DC. The owner never disclosed the eviction problem, I found out by running the address through the Office of Tax and revenue website. Is that non-disclosure by the owner illegal? Do I ask for the deal to be contingent on tenant removal or just run for the hills and wait for the deluge of foreclosures in the next year? This is the third case I have seen in the last few months.