When deciding whether to purchase a home with existing tenants, remember that having rental income will mean you’ve got cash flow from the property from the beginning. Consider your goals for the property. If your plan is to live in the home yourself, then buying a home with tenants probably isn’t ideal. You’ll have to wait until their lease ends before you can move in.
Even if you plan to keep the property as a rental, it’s still important to do your due diligence. Ask the current owner to see the lease agreements, so you know what you’re getting yourself into.