• How do leases typically handle furniture/appliance damage or wear?

It the tenant causes a fire and damages my house and neighboring houses then their renter's insurance will conver all the costs.My HOA has insurance.

I use a channel manager (OR) and it has damage protection built in.

So the seller cannot go get another loan for a car, house, apartment, etc. so it damages their credit by stretching them too thin.Am I missing something? 

I’m still learning the ropes of property management, so I really appreciate the opportunity to exchange ideas.At our property, we have a structured screening policy influenced by the Federal Fair Housing Act since our location falls under its scope.

-------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Get a damage restoration company involved.

It ended up being the main water line to the house that was old/rusted/damaged.

Everyone thinks they can paint but there's a big difference between a professional paint job and a non-professional one (the latter usually actually damages the property instead of improving it). 

The Landlord will verify that the rental is empty of all personal belongings and trash and that there is no damage beyond ordinary wear and tear.