It will typically last long enough that it goes out of style before it needs replacing from excess damage.  

The systems are put in place to vet people who would not able to pay your rent and who would most likely cause damage to your property.

You have no damages, though the previous owner at the time of demo may have had damages.3) Statute of limitation, if applicable, expires on nearly everything on civil matters at 3 years.

You can also require a paren on the lease for any student as a back up to cover damage outside the first. last and security.

That’s perhaps a B area.Do you see 6 inch tall grass, moldy siding, and damaged roofs here and there?

They will get a $100,000 liability to cover fires, water damage, accidents, and more.As @Greg Scott stated, you should require your tenant to add you as "additional insured" on their policy.

This is basically you paying into a bond that will pay damage and lost rents if you are unable to the landlord but this isn't a collective of money pooled together for the common good. 

For hardwood, that will take much longer and I'd bet they'd walk on it or move heavy furniture before the top coat is cured and damage it.

Does that mean I forfeit any right to make any deductions for damage and must return the whole deposit?

", shows your inexperience.The cashflow numbers for Class C & D properties only look good on paper because few investors plug the correct assumptions into their ROI calculators.Have seen many newbies use a 5% vacancy factor for Class C & D properties with nothing built into their calculations for tenant-nonperformance or the extra damages low-demographic tenants statistically cause.BTW: we recommend using at least a 20% Vacancy+Tenant-nonperformance number.