No one know however if you do move forward with the property I would have flood insurance as a way to mitigate risk even if it is not required by your loan and the best thing is if it is not required you can get it rather cheap like $68 a month for single to 4 families.

I really don't know more than the basic safety and mitigation approaches for asbestos, but I would look closely at your tenant's overall situation, how reliable they seem, and if they have a history of causing issues.  

Hey Everyone,So I am thinking we have another recession coming and I would like some advice on how we can mitigate the effects of a constricting economy.

If they earn it you buy the card on your double miles CC to mitigate your cost, if they don't earn it you're probably earning the extra $600 if you catch my meaning.

For existing socal landlords, what is your opinion on this bill and what are you doing to mitigate risk IF it passes?

I just worry about buying a bad property that has no or negative cash flow but I think I can mitigate that risk pretty well with conservative numbers.I also agree that I shouldn't wait to buy a house and I really wish I could but unfortunately as I stated above no one will lend to me until next year when I have 2 years of self employment income.  

To mitigate this we manage our cash reserves closely and I believe having cash on hand also buys you peace of mind along with flexibility.Best of luck

This leaves the retirement account owner to invest mostly within the plan (self directing) or to withdraw the funds to invest outside the plan.If you have a good accounting professional at your side, there are ways to use REI purchases to help offset your 401k/IRA/retirement plan withdrawals thereby creating a "wash," so strategies like this can mitigate your tax impact.I've worked on different cases where we've done rollovers from pre-tax to roth plans/withdraw while mitigating the tax impact of getting the funds out.Lenders are for the most part still behind the times when it comes to self directed accounts.

In addition, even though you would have no financing in your model you can mitigate the risk with proper cash reserves and grow 4 times as fast. 

Real estate has risk, but mitigate that risk in every way possible!