This can be a double saving bonus when you purchase a property with an existing tenant as they tend to sell for a lower price than owner occupied properties.
WIN WIN! If you are going to renovate the kitchen and bathroom then the money you save buying a rented property could pay for the renovations and add value to your new purchase.
The first home owners grant (stamp duty concession for existing properties) allows you to move into your home within 12 months of the purchase.
With a tenant paying the rent this can help with all of the upfront costs and those extra bills that come in in the first 12 months.