All that is required is written notice of your potentials but we strongly encourage that you have your new property actually under contract during that time to mitigate some of that risk.It's even perfectly fine to have the new property under contract before the old property closes. 

By midnight on day 45 you must have a list in place and from that point it cannot be changed and you must close on one or more of those properties.You do not have to be under contract in that 45 day period but it's a really good idea to mitigate risk. 

Things may very well be different there, but you should look into it.Generally, you have a duty to mitigate your damages. 

I think that the vacancies and repairs could become an issue, but also could be mitigated if you ran your numbers more on the conservative side, so if your expected vacancy for your area is around 7%, I would run the numbers and make sure that your numbers still work when ran at a 10% vacancy! 

You would probably be obligated to mitigate your damages after evicting her, which would mean finding a replacement tenant, giving the evicted tenant grounds to demand a refund of her prepaid rent.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Understand you can not eliminate all risk, only mitigate it.

As a Certified Financial Planner™ the first thing we need to address when speaking with a client is mitigating their risk and the use of living trusts is one way in which we can do so, especially when it comes to real estate.I do not want to get into too many details here but there are many different types of trusts used for a number of different purposes.

Again... some of these extra expenses are mitigated if you owner-occupy. $3000 for closing costs seems low.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Understand you can not eliminate all risk, only mitigate it.

What are some of the risks, and mitigation I should be aware of with something like this?