Tenant Low Move-in Rate/No Deposit

[Alec Siebert]

We're looking into buying a 60+ unit complex where their current marketing is for prospective tenants to pay about half a month's rent with no deposit to get them moved in.  I've been a property manager/investor for 13 years, but haven't managed anything bigger than 4 units and never needed to use this strategy.  And it seems, from previous experience, that the less money that tenants put down the more of a wreck their apartment and account balance are when they move.

I just wanted to know if this is really necessary in order to keep the place at relatively 100%, but especially how do you recoup any money for move-out damages?  Do we just get to eat that loss along with the initial half month's rent? 

Thanks in advance for your input.