The letter also states the total non-rent items currently owed by the tenant, such as accumulated late fees or repair charges.Also very important, the tenant states they have no unresolved issues with their current landlord, except as listed in a space provided, and they have no current plans to cancel their lease under the Service Members Civil Relief Act or for any other reason. 

But at the end of day you likely had a contractual obligation to provide shelter to the guests.

Very few non-owner occupied property policies guarantee full replacement cost - they typically provide replacement cost up to the dwelling limit purchased. 

Please note the information provided below is a layman's definition designed to provide a basic understanding for the general audience.

I’m currently active on BiggerPockets to connect with like-minded investors, exchange ideas, explore potential opportunities, and provide opportunities through my network to collaborate with others.

Keep providing value add options for your owners & they'll keep knocking.

I am not a tax professional trying to sell you my services I am simply providing my perspective. 

Gator most of the risk is on the person providing the earnest money.

As a wholesaler myself I can provide some feedback.

With some changes to the management structure and leadership, I believe we can significantly increase the revenue potential while providing a positive impact.