And who should be held liable for the damage?

But since you said Helene was a flood damage, you might be able to use that first to get the coverage.

A tenant who fails to maintain a rental property could end up costing you more in property damage and court fees than the amount of rent they're paying you upfront. 

Should be at least 10%.3) What about tenant damages and nonperformance?

The house has been through two hurricanes now with no damage or flooding, so it is pretty low risk from that standpoint.

What if there are already damages to the property that you could have deducted and tenant keeps whole thing rather than submitting to new management? 

This also allows for property owners to more easily write-off assets that get damaged/destroyed as the value of these assets is determined as part of the study.

We feel this doesn’t protect us from tenant damage (e.g., stolen smoke detectors, fire extinguishers) or cover costs for anything beyond normal wear and tear.

Aside from the obvious dangers, I’m seeking best practices and how experienced investors  in this area handle hurricane damage?

AND with STRs you have no risk of evictions (which can get to be real expensive depending on the area)  and most damages that guests do are covered by insurance (either through the rental platform it was booked through or sometimes the property management firm has added insurance too).As someone that build a large long term rental portfolio here in Illinois (I still have 40+ houses here) and somebody now building a portfolio in tennessee, I would definitely recommend looking at new construction in some of these str areas.