Quote from @Saijal Sindwani: This is an example of how DIY landlords fail to protect their investment.

Check the landlord-tenant code.  

( Coming soon a tried landlord?

Happy to send it directly if someone wants to DM me.The guide is unattributed and has no promotional content other than on the last page there is a brief mention of the RI Coalition of Housing Providers (a landlord advocacy group which tried to work with the legislature to mitigate the challenge of this new law) and RI Real Estate Investors Group (a networking and education group that has educated RI landlords on new laws like this since 2003).Hopefully everyone reading this is already aware of this new law and has already submitted their info to the new registry!

It is a liquidated amount covering only part of Landlord’s damages—for Landlord’s time, effort, and expense in finding and processing a replacement resident.

If I were you and could do a refinance and get all or most of my investment out of the property, I would hold on and wait for the market to come back next year.You can get up to 80% LTV on a DSCR Refinance.I assume you are using a Property Manager, I would take a little more control of my future tenants and call their previous landlord to see if they made any repairs to the property while they were there, how many time they were late on their rent, etc. 

However, I had insurance coverage that I was advised was appropriate and I operated by what I understood landlord/tenant law was and used professionals.

A landlord will NEVER make money doing this!

I send tenants to collections because I get the comfort of knowing it sits on their credit report for many years and prevents them from getting loans or cheating another landlord.

After she passed it became a rental to a slum land lord and after one of his tenants destroyed the property while having 8 people living inside it's 950 sq ft, he and I had a conversation and I bought it from him as-is for 69,000 and he didn't have deal with the mess they left.