Purchasing a duplex with a tenant already housed

[Alexander Johnson]

I am about to purchase a duplex that already has a tenant in one of the units while I house hack it. Their lease expires in July 2021.

What questions should I no doubt ask the current landlord? 

How would I handle a lease for that tenant? Do I wait to give them a lease with my terms until their current lease ends July 2021?

Should I increase rent to market around the area whether or not they're good tenants or not when their new lease starts? It's currently renting for $900, while market is looking around $1020.

If you know any tips or solutions for any of these questions it would be greatly appreciated to hear from the BP community! Thank you!

[Colleen F.]

The tenant and lease come with the property.  The best thing to do is to get an estoppel letter signed prior to closing. That basically says what deposits, prepaids  and rent rate ect. You can ask them to sign your version of a lease if you want on taking over, but they don't have to.   Worry about raising rents down the road when you determine if they are a "good tenant". You have alot of time to decide before July.