They might have a liability policy to cover any damage to your property, but nothing to cover injuries to themselves on your property.I once hired a roofer and before he started, I demanded insurance.

If you have real drywall damage, IMO it's better to call the drywall guys.

A couple of years back I was first in line to pick up a completely gutted house (not fire damage - just foreclosed after the demo part of a complete re-architecture) for $100K in a $400K neighborhood.

In these types of deals there are always to elements at play.Seller motivation, as mentioned SF is used to solve the seller's problems.

If you cant afford $ 400 for oil , how can you pay for frozen pipes and water damage ?

Starts the tenancy off with some good will.If they are physically moving too fast (which happens on the one-day move), there is more chance of damages occurring to our unit.

I would like something more iron clad to include specific damages and such.

The property is currently listed for $70,000 but needs about $30,000 worth of work (floors need to be replaced, all moldings need to be replaced, all walls need to be repainted, caulk around all windows is black and needs to be replaced, a lot of doors are broken, AC units needs to be replaced, room most likely needs to be replaced, two large trees may need to be removed to prevent foundation damage).The property has been on the market for about 5 months and there aren't any offers on it.

Most of the investors I know own their properties in their personal name and have an umbrella policy to pay for damages above and beyond their standard policies.

If there were issues arising from excessive damages, such as a borrower rehabbing and destroying the collateral, that is another matter for civil courts to assess consequential damages.That leaves seller financed transactions to be assessed, to the financial side.Dodd-Frank, the SAFE Act and all other underwriting guidelines fail to address the ownership of the note as an asset, much has to do with servicing and reporting requirements, but aspects of asset valuation are totally ignored.