See the amount of water damage that happens to a rental property when the tenants turn on a faucet and leave the house for two weeks!

The water ran down through the upstairs bathroom into the floors, and destroyed the kitchen ceiling downstairs. It kept going and tore up the hardwood floors, got into the kitchen cabinets and appliances and made it's way to the basement. When the water was finally turned off there was 8 inches of water in the basement. These tenants flooded the house!

If you are a landlord who wants to invest in real estate, reduce the changes for tenant damage to rental property by making sure you take these lessons learned: Always have a great insurance policy! Always give your next door neighbors your business cards. If my neighbor had not called, the water would probably still be running. Always take as large of a security deposit as possible.

At the end of the day, real estate investing is still a risk, but we protect ourselves against damage like this with insurance policies. This flooded rental property is a rare occurrence, but if you own enough rental property and have enough tenants, a damaged house is bound to happen eventually.

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