Have you ever Inherited bad leases
I am looking to purchase a 4-plex and asked to see the leases. At best the current owner is very sloppy, or worse he is trying to pull something because the rents are higher than average for the area. Each lease has date problems, signature problems, on one the tenant is listed as the landlord and no name as tenant, more than one person listed on the first page as an adult renter and then only one person signing with no clause stating all are covered and responsibe by one signature, lack of initials on pages, etc.
Should I run away on what may be a good financial deal or try and figure out (someone suggested a lawyer) if they are "legal" and enforceable for the remainder of the lease? I find it odd that the owner also has a nice large assisted living facility in the area and is a college graduate in business management, and would be so careless.
Has this happened to others?
Diane