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.

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

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.

Our SRPD has no section in it which specifically asks if the seller has knowledge there was past fire damage (unlike for mold) to the property, however, the buyer's inspection revealed burned wood that had been sprayed in the attic.

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

Frankly, it's a lot of nerve to set prices for the property owners. 

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.

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.

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.

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.