Should I buy a foreclosed home with tenants that come with it?
I recently found a three family foreclosed house on the market in NJ, a tenant friendly state (being sold as is). It is undervalued and in an B+ neighborhood with great schools, etc. One of the three units is occupied and would come with the sale. The other two units are vacant. It is a bank owned property and they aren't letting anyone on the premises. On the exterior, it looks ok- maybe would need a new roof soon. But, I wonder if there are red flags that I am missing. Perhaps the tenants that are coming with the property are bad tenants? There is no more information I can get on it. Any advice? This would be a first time home purchase and I don't want it to be a complete money pit. Can I get an inspection before finalizing the sale? Is there a way I can find out about the tenants that come with the property? Any help would be greatly appreciated!!