questions about tenanted deal on duplex
hi everyone,
i am in the process of analyzing a duplex, and I've just learned some new info about and I'm wondering what I'm missing about the implications of the following details:
-duplex is tenanted already; duplex is priced quite low for the neighborhood, so interior condition is unknown
-property is a duplex via an addition. it was originally built as a sfh. I know it depends on what it looks like inside, but does this spell disaster or extra future expense?
-regarding tenants, what are my options? can I simply raise their rent as I slowly renovate? terminate lease? they are paying far under market and cash flow would depend entirely on raising the rent.
I'm sure I'm forgetting something, but I was hoping the collective BP hivemind might be able to shed some light on the further risks or implications of thus newfound info on my prospective duplex.
thanks in advance!