"Where there is a will there is a way my friend"

A lot of other areas around DFW are STR friendly though. 

You may become friendly with them overtime, but because you already had a clear conversation you can follow your system and remove any emotion from the process.  

So my mother recently passed and she invested several hundred thousand in a friends business and he was paying her a yearly return at 10%.

*we added my college roommate and best friend who has committed to investing 1.2 million after seeing Ryan and I work this market for a year and saw potential in both our LLC and the area we are investing in. 

But an investor friend told me to leverage everything and when there paid off refinance them again.  

weve been together 5 years and have 2 children but one never knows what could happen. we are just trying to get as many 3 families as possible for now and hopefully be able to have 1 or 2 of our wives not have to work full time then save up and try a flip or two with an 'expert' investor friend we have.

I agee with @Dennis M.SN: I have a friend with a 1970 SX Conv.....and another friend that just picked up a 70 or 71 SX conv the other day.....

Be thankful you are in a landlord friendly state instead of MD or CA.

From everything I've read, this should be covered by a landlord insurance policy that covers damage done by tenants (specifically, this tends to be categorized as Vandalism because the tenant is knowingly doing damage to your property).Here are some photos of the aftermathtldr; A tenant smoking meth cost my colleague over $25,000.The key takeaways here I believe are: 1) get a good insurance policy, being stingy might cost you years worth of profit, 2) screen your tenants well and inspect frequently (especially for lower class properties), and 3) be prepared for unexpected costs, this might be a rarer case but **** happens.Also I'm not a lawyer or insurance expert so you should consult professionals with regards to your state laws and local insurance policies to figure out how to cover yourself from a situation like this.I'm interested to hear if any of you have had to deal with something similar and also any suggestions you might have.