Some experts claim that 80% the business results from / after the fifth letter.

(Seller tells you he's holding a $200 sec dep but 6 months later when the tenant moves out they claim to have paid a $500 deposit and want it back....).

It is not up to the association or manager to determine if a claim is covered.

Never rely on tenants.Court will not support your claims as issues were not likely caused by tenant.

First is an illegal apartment in the basement, but I think that's easy to resolve by removing some of the fixtures and then claiming it's a finished basement.  

Especially if I had properly originated documents with claims to rents and a senior position.  

It really helps on security deposit claims and how structurally sound your house is before it becomes an issue 

Any one claim vandalism coverage under home owner insurance?

We make excellent income from it, FINALLY (1st year claiming with a 1099).

Over  a hold period as the asset gets older the operating costs usually start going up more.A seller owning a brand new built asset years 1 to 10 and claiming XX costs might be true but you owning for the next years 11 to 20 etc. the cost profile of the property will be way different as many items will reach the end of their life expectancy and need replacement or multiple repairs to keep functioning optimally.Even on larger multifamily 50% is common for total expenses and if landlord pays utility it can even be more like 60% operating costs.