This has the effect of decreasing percentage returns, since additions to equity increase the denominator of return calculations.

The Related Companies, a property management company in Worcester were recently ordered to pay $75,000 in damages for exactly this kind of violation.The bottom line is this - treat every single individual the same.

That means your insurance is going to pay for the damages and you’ll have a insurance claim on your records.

Charging landlords for tenant damage.  

Faked documents and all, and knows how to play the came called a con or scam.So, as posted by another earlier post, review your lease to see if it contains anything to the effect that falsified information on the application is grounds for termination of the lease.

Wondering how effective that is.

I’m sure it can be done better and more effectively but I’m just unsure how.

It's important that you understand how your expenses and taxes effect your bottom line, so keep on doing what you are doing, but have a CPA verify that you are on the right track.

Once I figure out the extent of the damages what is my next step?

Depending on subcontractor used and extent of damage, could be 5k-10k.