I have a new HELOC now, 10 years later with a different bank at 4.05%, used for RE down payments and I mitigate this reality in two ways. 

My second instinct was "How can I structure a win/win deal".I'm thinking there is a lease structure to assume control of the duplex, live there a few months rent free myself, perhaps move in tenants into the other duplex unit, in order to mitigate the holding cost expense for the SFH after closing.Master lease option?

(I may have done that when I first got started) A home inspector is there to look for problems with the structure, fixtures, and utilities and provide suggestions on the best way to repair or mitigate them.

The lesson here is that Every bank has its own personality,  investment strategies, and risk mitigation levels.

He posted about his returns and buying properties in Indianapolis close to the median value for that MSA and how that has allowed him to cash flow well AND take advantage of rising values/rents while mitigating the risks of lower class properties.

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.

All about risk mitigation!

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.

The original contract and subsequent renewal options did not include an early termination clause, which would mean under current Florida law the landlord doesn't have to seek to re-rent or mitigate damages, in other words "a contract is a contract".

Their state taxes is flat at 5.1%There are ways to avoid or mitigate the taxes(as suggested by previous responders).You can do a 1031(suggested if you plan to keep on investing) or seller financing(installment sale) if you are no longer interesting in owning the asset but want a nice steady return.