Buying a rental property that is currently leased

I purchased a duplex that was leased and had the sellers add the deposit amounts into the closing costs. I'm surprised they agreed to it, but it worked.

What's the status on buying a property as a primary residence but currently has a lease in place with tenants?

Take the following with caution as I’m just trying to recall and not actually looking any of this up to confirm. However, I believe In Louisiana if the lease isn’t recorded and you aren’t specifically warranting to the seller that you are going to honor the existing leases I’m pretty sure you can kick out the tenants. Now I’m not sure on the process, meaning if it needs to be done through eviction proceedings or what. The lessees can actually recoup damages against the seller, not you. Again, I would look into this and you should be able to find the answer with some light googling. The state puts out a Landlord/Lessee right handbook every few years that probably has this scenario in it.

Generally the new owner steps into the shoes of the current owner as far as any leases are concerned.

Security deposits are usually figured into the closing of the sale... so you won't typically get a seperate check or anything, but you will get a reduction in the amount of money that you have to bring to the table at closing, to account for the deposits.

Deposits are the tenants, and should be surrendered to buyer. Inherited tenants can be bad, and need to be “retrained”

Have you seen the lease? I bet they are just month to month.

Actually both tenants have 15 months remaining.