Whats Better? 4 unit With Leases at a good rate or without?

[Sean Gribbons]

Hi BP people,

Curious as to what is more attractive to multi family buyers more specifically 4 units. Is it more attractive to a landlord to have a lease already in place at a good rate? Or would they prefer a vacant property ready for their lease and their tenant?

Where does everyone stand?

[Jim Kittridge]

Most investors would like the property to have existing leases at market rates as they're buying an income producing property. 
The only pitfall that they might have is if the tenants weren't screened well or if they wanted to use it for other purposes like STR.