Having frames of reference for investors to quantify risk helps ensure that the investment matches their needs, goals and tolerance.

Everyone has different heat tolerance. 

and to understand how they fit together in your toolbox, as none will give you everything (e.g, insurance is required and it will cover you for many situations, but not always; asset protection (LLC) is litigation insurance and complements regular insurance, by minimizing the target and making it unappealing).If you are a new investor, probably you will not have a lot of assets and/or equity to worry about (but even that is relative and subjective to each person tolerance to risk) so I would not worry about that till you pass that risk threshold (in my opinion 100K+ in equity, maybe 50K if you are really risk adverse) and you should be primarily concerned with finding good deals and growing your business first.

Everyone has their own risk/reward tolerance. and knowing me being a very conservative person, I really  like your idea on how you go on buying your rental properties. 

As far as rent increases, it depends on your area and what rent you can get and the market will tolerate.

It's easy to understand the math when comparing APR's and return rates, I suppose it all comes down to commitment to a strategy and risk tolerance.

Leverage is tricky business but in the end it all comes down to your personal risk tolerance. 

I have read on BP about buying without inspections and can see where it would have its place, but I'm at the mercy of my client's risk tolerance until it is my money on the line. 

I would start by staying on top of the utility company about tampered meter, they won't tolerate that.

it depends on your risk tolerance (will properties continue to appreciate in the near term) and are you willing to supplement a negative cash flow property?