Because we are still waiting for a permit, we are looking for a lender who will agree to mitigate the time DCRA is taking to issue the permit.  

I understand taking actions to mitigate piercing the LLC’s corporate veil (e.g., don’t commingle LLC and personal funds, keep minutes, use a valid statutory agent, etc.) and one thing mentioned is adequate business/LLC insurance. 

I wouldn't rent to someone that is short of my monthly income requirement UNLESS there were sufficient compensating factors that would mitigate my risk (ex. co-signer).

Yes its riskier but you mitigate risk where you can. 

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.