The FEMA 50% rule does come into play, but we do a lot of ground-up construction, so some investors that do have some new build/heavy rehab experience are tearing down and building back to current codes.

Yes they are buying old homes to tear down to build there now.

Definitely an important clause to have with all the wear and tear!

OF COURSE the Contractor is going to say you need to tear it all out and rebuild the wall(s)  because that's the absolute easiest solution and adds additional work for him.

We just acquired an existing duplex in Fort Lauderdale and planning on tearing it down and build a new duplex instead.

Property damage, excessive wear and tear, but paying, that PM has an incentive to look the other way, don't they. 

Not a big fan of LTR furnished units, the additional wear and tear isnt worth it in my market and of course smoke smell can be hard to get out. 

But any way the flyers had a tear off that had bulk postage on it and you filled it out if you wanted more information the property being sold.

Everything I have seen under 200k here are complete tear downs.

You are allowed to charge for ALL damages beyond ordinary wear-and-tear.