Updated over 6 years ago on . Most recent reply
Inheriting Tenants, Help Needed
Hi All,
I am about to purchase a 2-unit property in Chicago for 100k. It is an REO so I am not getting good responses from the seller. Here is my concern:
The property is already rented.
a. The seller says one of the unit is occupied by tenants who get CHA assistance for 75% of the rent.
b. The second unit is cash MTM tenant. I am worried that the second tenant might not be paying etc and I dont want to deal with eviction since it will be my first RE investment.
What do you suggest from your experience that I should do?
I am still in the 5-day period for the contract. What can I ask from the seller like receipts for rent paid etc?