Existing Tenant Lease
I'm a real estate investor in Northern Colorado. This is very tight market when 2-4 unit multi family, townhomes, condos do not stay on the market for more than a few days. A lot of these properties already have an existing tenant. Although the due dilgence period allows review of the existing lease and application, it's only as out clause and generally you have to either pass or accept the existing tenant and lease until the renewal.
My question to my fellow network of RE investors, how do handle an existing lease? Especially if it doesn't come up for renewal 6 or more months after purchase. Appreciate your comments and reposes.