A more professional tenant would have just listed everything in poor condition so they would not have to pay anything after they destroy your property.but I think I will not deduct anything since he is letting me in there to replace it. normally I would have to wait till after he moved out so thats a plus.If a tenant stole your furnace, would you replace it for free if the tenant was nice enough to let you into your rental?

We have seen in play many times that homeowners have been awarded money in suits due to personal heirlooms that were lost because the home was foreclosed on and the personal items we stolen/destroyed/damaged/etc.

It protects you from making huge mistakes that could destroy your fledging business.

Millions of them will lose their properties to foreclosure and have their credit destroyed before this is over.

=PI didn't know I even had to cover the "Wood Destroying Organism Report" in the contract.

At that point you may have been able to just put in $5K instead, and you wouldn't risk having tenants destroy all your new finishes.

I asked myself the same things others ask before doing this - I'm afraid a) that I won't be able to pay the rental mortgage, b) that the house will need more work than I anticipated, c) that I won't be able to rent the house, d) that the eventual tenant won't pay the rent, e) that the tenant destroys the property, etc. etc.I was afraid of all those things, and some did come to pass, briefly.

Frank, this is the beauty of seller financing....as long as the houses don't come back destroyed.

After that, I destroy the known world in Command and Conquer and kill zombies in Resident Evil for a couple hours.

Nothing coud be worse than you losing all your capital, and destroying your credit at your age now.