Buying a Rental Property with long term section 8 tenants

[Cliff T.]

Hi ALL,

I just inspected 3 properties all owned by the same investor. Each property has long term Section 8 tenants.

1 of the 3 has had the same CLEAN tenant for over TEN YEARS. I spoke with them and they are intent on staying. 

The other 2 have been there over a year, but are pretty grungy tenants. However, they are also intent on not moving.

Can someone please tell me what I should expect if I buy a property with Section 8 tenant and KEEP that tenant?

Closing?

Setting up payment?

Signing new lease agreement?

How to raise the rent? 

What else should I find out?

Thanks ahead for the advice! I hope this helpful to others as well!