Examples would be going after deals in higher priced neighborhoods that are in loan default, that are on the MLS for over 180 days that are NOT short sales, deals with code violations, homes with fire damage (most fire departments have records of these), homes that have an unusually lower amount of beds/baths/sq footage for the area leaving room to add on, and the list goes on.

I had problems with kid's damaging a building and throwing eggs and smashing pumpkins and a couple dummy cameras and a couple signs "smile you're on camera" has stopped all the problems for about a year now.

All payments made by Tenant to Landlordafter the tenancy commences, no matter how designated by Tenant, will beapplied as follows: first, to any outstanding amounts due for damages/repairs,utilities etc.; second, to any outstanding service charges and fees from priormonths; third, to any rent outstanding from prior months; fourth, to anyservice charges or fees due in the current month; and lastly to the currentmonth’s rent."

Instead, all water draws back to the house and has caused significant damage to the siding of the house and the patio door.

There are an awful lot of water damaged walls and floors out there from improperly installed window shakers.

@Chuck Wiggins I've heard of rental loss insurance for property damage, but not for rent (unless of a traditional insurance claim).  

YOu could have massive hail damage and have to pay your deductible on your insurance for new roof etc.you could have the tenants from Hell that trash your unit causing major turn over costs..

These include:-Painting the garage-Removing some dead trees and cleaning up the yard-Installing flower boxes in the front and under the windows-Repairing all driveway/garage floor cracks-Painting the inside of the house-Repairing appliances-Fixing a leaking roof and damaged gutter-Installing new SOD and landscapingNot quite as good as the addition and new garage cited above but all of these things reduce maintenance costs and improve the value of the properties.

Try a fire in the upstairs gutting the LR+Kitchen, and water damages to the lower unit. 

We have been successful so far, HOWEVER my personal credit has been severely damaged in the process, due to constantly asking for credit increases and almost maxing out my cards while on a project.I don't mind using my credit cards for rehabs at all, but at the same time I would like to get my credit score to something respectable again.