Not to mention the risk of attracting the wrong guest avatar and dealing with damages.

Also, due to KC mayor creating this ordinance, which to highlight and summarize includes:bans discrimination against tenants based solely on:"-Source of income from an occupation, including gig work or paying rent in cash-Use of public programs like Section 8 Housing Choice Vouchers, disability checks, or social security-Poor credit score-Prior evictions and alleged damages older than 12 months (less than 12 months can be a basis for denial)-Prior convictions or arrests (sexual and violent crimes are excepted, a landlord can still deny based on these convictions)-The ordinance also requires the city to proactively scan for rental ads using discriminatory language like “no Section 8” or “no past evictions”.

The water went through to the basement as well causing damage to the ceiling and walls.

I flip fire-damaged properties and own a restoration company which specializes in fire damage.

I would also consider the possibility of raising the property as well to prevent further flood damage. 

If we cannot get them to pay what they owe in damages and back rent we send them to collections.

I personally am okay with having a cosigner for a tenant because this adds an additional person who is financially responsible for the lease if the tenant is unable to pay rent or for damages they cause. 

This policy should outline your criteria for tenant screening, including credit checks, rental history, employment verification, and background checks.Renters Insurance: Renters insurance provides financial protection for tenants' personal belongings and liability coverage in the event of accidents or damage within the rental unit.

My tenant moved out but left a lot of damage to the property.

Long story short she didn’t have money and I ended up losing a lot potential rental income and having to renovate the entire unit from damages.