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

Choosing a professional restoration company seems really important, especially for damage like water, fire, or mold.

I just started working with THD, I had the same situation as Shankar RamaniI had a 3/2 SFH posted for LTR, they reached out asking if I am open to short term rental, I was hesitant first but after searching the company and their business model, I was willing to take the risk if they pay me a good premiumThe person who reached out to me works with the insurance side of THD ( they have corporate leasing department too), and her tenant had a fire damage in their house so the insurance company wanted the tenant to stay somewhere until the house repair is done.

This way the tenants will be held responsible for any damages. 

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.

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

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

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...

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

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.