First of all you need to send your tenant an Itemized bill for his damages showing why you are holding his security deposit. 

If it happens, none of the Partners will take Cash Flow out until the Lending Partner is fully repaid.As far as natural disasters which can put us in even worse of a situation, we will be dependent on our Insurance which also includes rental loss provisions as well as Damage and repairs.

Also, I am not sure of any damages to the unit at this time.

Its water proof and if a piece were to ever get damaged you can replace just that piece.

High spill and impact damage area.  

How much do you charge for damaged carpets, the living room is more than normal wear and tear, you can see a dark path where there was no furniture (even after shampooing).

You and your friend should dive into your states laws on security deposit, and the local laws where the rental(s) are located.Some local areas, LA for example requires the security deposit to be placed into an interest bearing account, and once they (the tenants) leave the property then the all that money is returned including the interest if there is no damage reported. 

Or do you put a general disclaimer on your listings (example: agreement to hold you harmless for any damages and injury as a result of renting your property).

(B) If the landlord makes an entry in violation of division (A)(8) of this section, makes a lawful entry in an unreasonable manner, or makes repeated demands for entry otherwise lawful that have the effect of harassing the tenant, the tenant may recover actual damages resulting from the entry or demands, obtain injunctive relief to prevent the recurrence of the conduct, and obtain a judgment for reasonable attorney's fees, or may terminate the rental agreement.

Possibly give them one month rent and if they move on time, without damages their deposit back in full.