Quote from @Doug Smith: When we started this company, I had been a special assets officer (handling non-performing loans for banks trying to extricate them from the deals with as little damage to them as possible) during the last big crash.

He would also be exposed to liabilities related to the property, such as lawsuits or property damage claims, which could affect his personal assets.

The agreement is that your tenant will pay for any damages they caused.

Tenant waives any claims against the Landlord for loss, damage, or theft of personal property, regardless of the cause.

How much damage was done to the fence? 

Management & Leasing FeesManagement Fee: 10% of the monthly rent = $180/monthLeasing Fee (Tenant Placement): 60% of one month’s rent = $1,080 (one-time)Lease Renewal Fee: $250 per lease renewalUpfront & Annual FeesOnboarding Fee: $350 (one-time for setting up the property)Annual Administrative Fee: $45 per year (for statements and 1099s)Reserve Fund Requirement: $300 (held for maintenance and expenses)Maintenance & RepairsOrdinary Maintenance: Any repair costs exceeding $300 require owner approval.Emergency Repairs: Up to $300 without prior approval; HVAC, plumbing, and electrical repairs can go up to $500 without approval.Home Warranty Claim Handling: $40 per claim (if applicable).Multiple Quotes Request Fee: $100 per request if you require multiple vendor quotes.HVAC Filter Supply Fee: $195 per year per HVAC unit.Repairs & Improvements: 10% markup over vendor invoice cost.Additional FeesInterest on Unpaid Sums: 10% late fee with a $39 minimum per month.Paper Check Administrative Fee: $20 per check if not using direct deposit.Insurance Documentation Penalty: $40 per month if proof of insurance is not provided.Eviction Protection Program (Optional): $15/monthProperty Damage Protection Program (Optional): $25/monthTermination FeesEarly Termination Fee: Equal to the management fees for the remaining lease term.Vacant Property Termination Fee: $500 if no tenant is in place.Transfer to Another Manager: $500 file transfer fee.

I paid $165,000 for the 1600 sq foot home and I'm assuming I will have to put at least half that much into repairs as there is severe damage to floors and walls as well as black mold.

One lasted 3 days caused by storm damage taking down tress, that knocked down power lines.

If you're worried about the tenant damaging the unit, you can work out a deal with a landlord/tenant judge where they can pay what they can and leave immediately.

very sorry to hear that. a lot of "professional" unfortunately only look at you as a number and not a long term relationship. you should be able to put a complaint against home inspector to hopefully recover some damage they missed