Questions about buying turnkey rental

[Scott Davis]

I’m meeting with an agent tomorrow about a 4-plex that’s already rented. What questions should I be asking to understand more about the property and if it makes sense to move forward?

Thank you!

[Taylor L.]

You need to know, at a minimum, the condition of the property, the terms of the current leases, whether tenants were properly vetted (and how), the current security deposits, and whether they pay on time. Don't just assume that the current owner put the tenants in there with your best interests in mind! Be sure to verify.