There is no guarantee the next tenant will be any better, they may be dirtier and not pay rent at all.I have inherited heavy smokers, but they have already been smoking in the unit for years. 

@Greg Ghunt, how smoking hot is this deal?

Works great with cigarette smell.

I don’t mind keeping the tenants but I know the lease agreement may be to relaxed in areas such as smoking in home which is a No No for me and my properties so certain things I want to change but I have no problems at this time with keeping the current tenants other then smoking and certain things like pet requirements.

You must tear out any damage, you must treat every inch to get rid of smoke smell, and finally piping or wiring may not have burned, but it may have melted and need to be replaced. 

I have a checklist I walk down each visit to look at plumbing, locks, smoke detectors, windows, pests/mold, overall condition, pets, etc.Scheduling them is the biggest pain.  

Choose one contractor and go with it-Don't paint smoke rooms - Rip out smokey sheetrock instead of trying to paint them ... repeatedly -Buy a home warranty - we had an AC on the way out....and i didnt buy one- it died 2 days before keys were handed over; it cost me $8K Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Some models I've seen have things so far diluted (not to mention complex) that once the smoke clears, the returns pale.  

Thanks for all your inputs.What I think I'll take away here is stay away from properties in poor school districts unless the numbers are just smoking.

Also, an electrician that I was rather impressed with (manners, presented his insurance and license from the start) came up with this quote which threw me back at first:6 recess cans in living room4 recess cans in kitchenInstall (3) 110volt smoke detectorsreplace/extend switches and receptacles after drywallGFCI protect kitchen sinkDemo wires in wall to be removed (wall removed by other)Total $1795.00Personally, I don't think I need 3 smoke detectors in a single story 1100sq ft home and that I could get away with 4 recess lights in the living room and 2 in the kitchen (keeping a chandelier for the dining area).