Cheap laminate + accident = ruined laminate.

Our properties are 2 and 3 stories (~3K sq ft) and dogs pretty much stink / ruin floors however, responsible pet owners willing to pay fees typically have been good long term tenants.  

., ruin your bottom line?  

No .. we provide all our tenants with a binder on their home which contains copies of all manuals for the appliances and call lists for all our service providers.All our laundry units are in catch trays with floor drains ... so no ruined floors.And, according to your math, the tenants "pay" for the unit over 3 years. 

That what's going to happen is police involvement and a court eviction that will ruin their credit (hopefully that's true or something like it where you live). 

However, that being said, in EVERY scenario where the tenant had a pet (dog or cat), we found a lot more damage than normal wear and tear (horrible smells, ruined  or scratched carpet, pee smell in the wood flooring that was impossible to get rid of, etc).  

If you do what you are thinking of, it will probably ruin you financially.Go out and invest in real estate.  

If they have a decent vehicle, they can sign the title over to you or something like that, but I would stay away from a deal where someone gets into your house without having anything of their own on the line.... they might ruin your new locks.

You will spiral into financial ruin quickly.

I am trusting my agent's judgement on this...I hope we don't have to evict as I really don't want to ruin the tenants ability to qualify for Section 8 and of course incur the expenses.