There was a leak and about $10k in water damage done.

I know it has been costly to replace/repair the damage done especially with the property being vacant and a monthly mortgage payment due as well without any rental income coming in.Any advice is greatly appreciated.

For example, what if a tenant leaves with significant damage and it takes you $20k and a few months to make the unit rent ready again.

Property Condition Report: Document the property's condition with the tenant to manage future damage claims.4.

All the sunk costs are in the basement from structural, mechanical, water damage, asbestos, plumbing, etc.

Things to consider: daily internal operations, external branding and operations, lending, in addition to inside out *legal protection and outside in** legal protection, privacy/anonymity/identity protection and security...Prevention measures at different levels, preventing the attack from being initiated vs preventing the attack (lawsuit) being successful vs reducing the damage of a successful attack.... there are many elements and I see people pick one and argue about it without looking at the whole

Tan/brown neutral , and yes a little darker to hide stains....and not a Berber loop style, those look nice but are prone to damage...

If they are in an upstairs apartment and leak, the damage can extend to the downstairs unit.

The potential damages would likely be less than what it would cost to litigate, especially on a smaller deal.

Unfortunately, appears you've gotten exactly what you deserved due to your poor screening.Hopefully, you've learned from this painful lesson.Hire a well-screened landlord-tenant attorney and evict them and sue for damages.