If you ever build and rent there, and for some reason a tenant gets arsenic poisoning, you will be financially destroyed in a lawsuit.  

They think if you just don't renew their lease, or you tell them they have 30 days notice to move with a M2M agreement, that that equals an eviction and you just destroyed their ability to rent.  

Paper is actually more risky because a house fire would destroy everything.

We brought in a 20 yard dumpster and filled it up with cat-destroyed furniture and carpet, as well as a ton of trash - only to make multiple other trips to the dump with a 12 foot trailer.   

My personal house has hardwood and my dogs destroyed it in 3 years.

ALWAYS start it.... you can always stop it..... but it takes time, so the longer you wait, the longer the entire ordeal plays out.My biggest advice is to NOT make you decision based on FEAR..... yes, tenants can destroy places out of spite, but its not as common as you think.

This is why God invented lawyers and you should all have one on retainer if you are going to run a business in America.You need to have professionals to call for legal help and advice to keep you out of legal troubles and prevent losing lawsuits that could destroy your financial future.Every state's law is different and giving advice based on your own state just isn't helpful and potentially disastrous to another investor who accidentally takes it because it sounds good to them.Lawyers are plentiful and compete for business and don't have to be expensive just to do simple evictions and answering questions.Look around,interview a few,and make the investment in your business,good luck.

How else will you know if someone is destroying your property?

And being able to be more choosy will let you get tenants less likely to destroy the place.

Next time I would charge them a pet fee instead of a deposit, if their dog destroys something you'll have to go through the deposit claim process which they could (and often do) dispute.