You can get reimbursed, in the form of tax rebates, for your mitigation expenses.

But as you cut your teeth on your first smaller properties, you'll be much more able to manage and mitigate the risk of using professional management.Adding value. 

If so, what can I do to protect/risk mitigate fire/safety issues? 

And if so, I would love to hear your thoughts on this or anything I should to doing to mitigate my risk.Thank so very much for any help. 

Loopholes of Real Estate by Garrett Sutton is a great informative read for starting out. Breaks

While his end would be to oversee the rehab of the project, make sure we stay on budget, finish within time frame allotted,and help to mitigate cost with his expertise.

Would love to hear from others who were in similar situations with student debt and what they did to mitigate it best while managing to invest in RE. 

Another aspect which mitigate some of this risk is to really understand the contract language.

NNN - I am going to negotiate a cap on the expense pass through for property taxes to mitigate the California prop 13 tax increase; ideally getting very close to what the current tax exposure is.

If you’re living in this duplex, and if you’re expecting to pay some of a mortgage anyway, then that’s one easy way to mitigate the risk.