Me and a mate tried setting up tents on 2 different servers this weekend. Loot was wiped after each server reset. As far as I know a tent can have 50 items, 10 weapons and 5 backpacks. They last for 2 days if you die. Also I believe you gotta save it everytime you switch stuff around in it. Seems something is broken right now though since it wouldnt save our 4 tents.