Many other things had to be done such as clean up basement due to water flooding, place tenants in hotels given water service could not be restored in certain period, etc.Early indication from insurance adjustor is that my insurance does not cover stolen property - cost of install water pipes and restore water service is NOT covered (water pipes are treated as stolen property). 

I was wrong and got my house stolen and my credit ruined. 

@Alyssa Dyer @Tyler HolzerYou can absolutely require your tenants to carry insurance, in fact I would recommend it.Most comprehensive insurance companies that offer home/auto/life insurance policies offer a very cheap renters policy that generally costs the tenant $5-25 per month depending on location and current policies.It is an inexpensive item to require and it is in the tenants best interest, it will also detour tenants from coming to the landlord for stolen property in unfortunate cases. 

When an owner either expressly or implicitly abandon's property, it can no longer be stolen from the one who abandoned it, or trespassed upon.   

If you're really worried about it you could do this through an entity so at least if the entity data is stolen it's not your PI that is gone. 

Unless their identity was stolen their credit is low and banks don't want to lend him money for a reason.

We have had pavers, ovens (yes plural) and shrubs stolen over the past few weeks.

In the year of sale, your Cost of Goods Sold for the flip property is the total accrued cost of the property to include acquisition cost, repair/rehab, maintenance, and other holding costs such as property taxes, insurance, and utiilities.While dealer realty is considered merchandise (inventory) to your flipping business, the tax treatment of your inventory is not the same as for a traditional retail business such as a hardware store.  

So many renters have their entire deposit stolen from them that it doesn't surprise me to see so many renters refuse to pay their last month of rent.I think something like this could work if there were some kind of vetting system.

People severely underestimate how easy it is to have information stolen.