And it never hurts when you say see ya to add that you were letting go of the additional costs of damage over the deposit, but since you are going to court, you expect to counter sue for your full damages.

Thanks ED and Jason for the valuable inputs. 

You can still find tenants during down turn and there is always demand, but lower cash flow due to higher turn over (rent lost during turn), lost rent during eviction process, and additional turn over cost. 

and if so how do I calculate that and add it to my tax expenses?  

I do inspections semiannually.In my relatively short tenure as a landlord, tenants that are "up to no good" have both (a) paid rent like clockwork and (b) been unresponsive to any communication.In addition, my lease has the following provision:  (o) You shall keep us informed of your current contact information at all times, including phone numbers, emails, and emergency contacts.

The entire 2 flat project with an addition at the top took me about a year. 

If you are in an area where the market will allow you to collect last month's rent in addition to security and first, I'd get them on a payment plan to come up with the last month's rent in addition to regular rent payments.

I've done this before and it has worked nicely.Other than that, consider whether your lender would allow an additional loan to cover closing costs.

I look forward to connecting with other agents as well in addition to investors.

We inserted a partition wall in the large addition on the back of the property to create a master suite, and a family den.