Tenant damage and security deposits (MA)

[Alex T.]

I just purchased a triplex in Chelsea (East Boston area). My plan now is to slowly update the units and improve the quality of the tenant base. 2 of the units are occupied, I'll be updating kitchen and bathroom in the vacant unit. Previous landlord did some lipstick on a pig updates that I'll need to do right, and previous tenant did some damage before moving out (and stole the fridge). As a result, the updates won't be cheap, and I want to make sure I protect myself from tenant damage in the future.

Problem is that Massachusetts has some of the worst security deposit laws in the country: https://malegislature.gov/Laws/GeneralLaws/PartII/TitleI/Chapter186/Section15B. I don't expect tenant damage to be astronomical, but may need to update an occasional damaged/stolen wall/appliance/etc and clean the premises after the tenant. Could some of the seasoned MA landlords provide some guidance? Are the security deposit laws not as bad as they seem if I create a correct system? Could I collect last month's rent instead and use that to cover damage/repairs? Can I collect non-refundable move-in fee like other states do? Thanks