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Question: At a bank foreclosure sale, our investment group purchased a home in Gilbert. Our plan was to “flip” the home to another buyer for a profit after we made $20,000 worth of improvements and repairs to the home. Although we knew there was a tenant in this home, the bank’s agent had said that this tenant had only a verbal month-to-month lease. When we furnished the tenant with a five-day notice to move out, as we have done with other foreclosure homes that our investment group has purchased, the tenant showed us a one-year lease signed by the former owner of the home. This lease has seven months remaining. more…