Deposit will take all of other damages left. 

(I understand upon learning the per is an ESA or Service Animal, one cannot charge pet rent....but these are still animals and can cause damage to the property.

------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I fared well luckily, did not sustain any damage personally.

I have bought notes based on bank saving time legal fees and property damage during the foreclosure process, if you were buying residential paper I would look at the foreclosure timing first if it is like Wisconsin you can get the banks attention if it a very fast moving process like I am told florida is note purchass can be difficult

@Catherine Emert - In Virginia too, and likely in every state, tenants are responsible for damage they cause, including a pest infestation.  

Digitize physical receipts for easy storage and use a consistent naming convention for easy sorting - 2024.03.25 Home Depot.Maintain proper records, such as contracts, settlement statements, and promissory notes.Additionally, you can track income and expenses consistently using software or spreadsheets.As you scale, if bookkeeping isn't fun, consider hiring a bookkeeper for a couple hundred bucks per month.

I might have mentioned this before, but it makes me think of a story I heard awhile back where a semi was stuck underneath an overpass and a bunch of engineers were trying to figure out how to get it out without damaging the overpass.

When we removed some of the wall we found that there was damage to the wood.

It was over $5,000 damage but the bed bug company said it wasn't their fault and the tenant signed the contract that the bed bug company wasn't responsible for any damages so I was stuck with fixing it myself.