Inherit tenant cannot leave and has not paid rent

[Vinh Nguyen]

Hi, my partner and I are getting ready to close on a triplex. Our contingency was that the tenant would have to leave by 1/12/21. However, he is a section 8 tenant and the city is having a hard time finding a new place for him. The current owner has not received any rent from tenant for the past few months. It looks like our choices would be to bail from the deal or close it and hope that the city will eventually find the tenant a new place. We are stuck as to what what should do. We really like the triplex and it's a good deal. 

We understand the obvious decision is to withdraw the offer, but I was hoping if there was another way. Is it worth the risk? All signs are leading to leaving the deal but I would like to hear the unbiased reasons as to keeping it won't be bad idea. Please advise.  

[Joe Homs]

@Vinh Nguyen  I am surprised that the tenant is not paying?  At the very least the housing authority should be paying the current owner their portion.  Is the seller willing to leave up to 6 months rent in escrow (until tenant) moves out and you can draw from that until that happens to get the deal done?  If its a good deal I would close with these terms, but I don't know how good of a deal it is.

Good Investing...