Three Duplex Six Total Units

[Courtney Kimbrough]

Hello everyone. I recently came across a Duplex for sale at a reasonable price. Upon going to veiw the building I found that the seller was also parting with two other adjoining duplexes, all rented to long term tenants. With the shortest living there for five years. I immediately had the idea to package these buildings and do a long-term commercial loan paying 25 percent down. The problems that I are currently out of my realm of knowledge are: 1) all of her long-term tenants are living there month to month with no lease and paying $400 below market value for that area. 2) she doesn't have rent roles or payment and income statements available. And 3) I still have yet to met the seller or the sellers agent, it's been over 3 weeks. If anyone has come across any of these problems and can lead some advice it would be much appreciated. Thank you in advance, Courtney Kimbrough