In our lease, in addition to the normal requirements for keeping the property clean, we specifically include the requirement for the tenant to provide professional carpet cleaning upon departure, receipt required and we also provide vendor contacts for a couple who do it to our standards.These vendors will recommend any additional treatments for stains, pet odor, ozone, etc. knowing we will do these if the tenant does not choose to.Two reasons: if they don't, its an easy defense for the charges taken from the security, and;the cleaned carpets are much easier to evaluate for whether or not they will survive another turn.

I agree with @Theresa Harris.

Don't plan around a downcycle as they don't last , just plan to survive it ;)

Do not be one of those investors.So do you have the assets available that if you refinanced and leveraged your resources across two properties to survive (not need to sell) something like a Great Recession? 

Market can go up and down but reit will survival chance is higher than these guru coach deals.

You sound like a seasoned pro, but just to cover your bases I would highly recommend getting Peter Harris's book - Commercial Real Estate Investing for Dummies - he has an extensive checklist of due diligence tasks and advice for how to manage the process. 

I don't care if people are so delusional that they think they need a pet's company to survive. 

@Nadine Perry    Always good to go to the sale and observe...take your list, see what your Maximum bids would have been, and see if you would have won any with your max bid.If you're going to Harris county there used to be a lady who would give a brief overview of the sale maybe 1/2 or 1hour before the sale.Not sure if it is this lady or not....or even is she still does it.There is also a group called RAD that might show up and give a brief overview, just in case you see shirts or signs.Here is the guide to Harris County.....it is a little different than other counties due to number of properties and size of the county.https://www.hctax.net/About/An...They don't have one big sale, but split it up by Precinct....I believe 1,2,3,4,5,6,7   so essentially 7 different sales.You may have work to do with your title company to get some liens removed if there are any...like mortgages.Governmental liens like IRS, Treasury, city liens, code compliance, demo liens things like that typically don't fall off and can't be negotiated...you'll have to pay those in most cases. 

I also now get to live next to a STR and I do think some people should shape up their neighbor relations if they hope for STRs to survive and thrive.

Quote from @Theresa Harris: Best option is get it in writing that he's gone and check the property first to see if there is stuff left behind.