Landlords must return security deposits with interest or give tenants written notice of damages being claimed within twenty-one (21) days of when tenants move.

If the tenant identifies an area of moisture that may be causing growth we immediately address the source of the moisture, replace and damage building material (usually dry wall) and or use mold cleaning solutions/mold blocking primers as required. good luck

Do you have any recommendations on how to implement this effectively? 

It turns out those laws intended to track terrorists were massively helpful in tracking money laundering for organized crime and were very effective at it. 

Small Claims Court is also good, pro is you get an enforceable judgement so if anything is unclear such as damages amount that will be determined, cons are time and expense involved and once you win the big challenge is enforcing the order.  

We NEED these to offset the extra legal fees, unaccounted for damage, and unrealistic high appraisals of some of the other deals we invest in!  

Could anyone share their knowledge or resources on how to effectively approach this renovation?

-  How do you assess deductions for damage in a common area such as a kitchen? 

Typical assumption is that security deposit would 100% go to cover property damages - that's the whole nature of the deposit IMO. 

But what Bitcoin has at the moment is the network effect and the  growing perception of being a permanent player in the arena.