Having a bit of a last minute nightmare due to my experience. I bought a duplex for my first home with intent to rent out one side so I can start a small cash flow.

I (somehow) more inexperienced than I am now and was trusting my lawyers/agents to help ensure things were all set when I signed the initial offer. Definitely mistake #1, which i started learning as I was attending webinars.

Initially the only tenant was to not stay on the property after I purchased. I found out about 2 weeks ago she was not budging,  and I got wind I should be planning to inherit her.

Problem is, she was a relative and was only paying 500 a month. I started asking my realtor for the lease, etc, and said I need to review it.

Fast forward a few days, still no lease but I started learning tidbits about her stay. I was told I would get her security deposit . I asked what it was etc, found out 2 days ago she didnt pay a security deposit since she was family.

same 2 days ago I called my lawyer and he said I will need to try to get her to sign my lease, and file an eviction letter for 60 days if she doesnt. I triple checked saying, even with covid?

Now here I am having researched more and found out about the estoppel agreement, how inherited tenants work and am more concerned. I still have no copy of her lease. Closing is today at 4.

Giving me a break on all my mistakes aside, what would you do at this point?

First home, only 25 and working off my own savings.

Have your attorney review the contract and demand the lease. If these were part of your inducement to the contract, then you may have a reason to terminate the contract and get your money back. You need to get on the phone with your lawyer now and sort this out. Otherwise, you may have a disaster on your hands. Don't freak out, just call your attorney and agent to get the details.

Good Luck.

@Cassandra Kaise

Your closing document should include executed copies of leases, executed estoppel certificates, and escrow of deposits. Your attorney should know this. If the closing documents are missing this documentation reschedule the closing or cancel the deal. If you move forward as-is, it sounds like you have more legal issues in your future and eviction plans.

Best wishes, please let us know how everything goes at 4pm.

Definitely push back the closing until you have accurate information in hand about the tenant and the lease. I see red flags all over this, and personally I would just walk away. 

Personally, I would push closing back and ask for contingency that the unit be vacant at closing. Have their family member kick them out so you don't have to deal with it. Get a new tenant, screened by you, at market rent. 

@Derrick Dill is 100% right. Definitely do not move forward without having the tenant out. A bitter, angry tenant with no security deposit to lose is far worse than no income.

Best of luck.

DO NOT CLOSE.

Your power in making this right is BEFORE closing.  

Hi everyone,
I want to thank you all for your comments!
After an absolutely crazy day here I found out the fault was actually my attorneys.  At your advice I called and called the office, about ten times till I finally got the right person. Not happy! The lease has been in their hands for weeks. The reason it was problematic for me to obtain, was her lease actually has already expired back in September, and she has been paying monthly since.  So I do not need to continue her lease, luckily. I spoke with her and told her the terms, she understood the changes especially when I explained the new benefits she would be receiving  (offering some things that weren't part of her original lease). I'll be handing her her lease tomorrow, she will have to vacate in if she does not agree to the terms--however, I do think she will actually agree.  The place was in better condition than the vacant side. 

tldr. Would not recommend my attorneys to anyone. Can't believe they're so highly recommended in my area.  

@Cassandra Kaise

How is this a nightmare lol ? It’s not that big of a deal ma’am ! you’ll learn what nightmares are after years of this and the tenants causing you terrible hardships it’s just part of running rentals

Sounds like a wonderful learning experience. As @Dennis Wayne said above, this is all part of the real estate investor journey. Add this to the list of stories you will collect on the way. Best of luck on your adventure.