I also include the required language that if there is a deficit owed, they must pay upon receipt or I may file with credit bureaus.Also, as Mat T. says, you have to prove THEIR pets did the damage. 

@Tj Hines Often times any deficits in experience and be overcome with cash.  

It's tough to make a buck in this business if you don't know what you're doing, and on your first flip that large spread can easily turn into a large deficit, and even leave you out of cash to finish.  

It's like going to low cost mMcDonalds and wondering why the calorie value of the meal does not help you get in shape, it's because cheaper is not better if it does not align with your goals

The democrats have bitched about Bush causing one of the biggest deficits in history by overspending, but none have even started to suggest maybe cutting spending?

The real issue is when we will have to eventually print more money to offset the huge fed deficit.  

GDP will continue to shrink, and why our economy will continue to stagnate (no, deficit spending is not the main problem).

The United States government has a $18 trillion deficit not included infunded liabilities.

When you combine this with ever-increasing deficit spending and the fact that continued inflation will tend to push people into higher income tax brackets, qualified retirement plans become a bit less attractive.  

Can you raise the rents to cover the deficit.2.