Yes, because it's a house in a HCOL area, turn over costs can be significant, so trying to mitigate this.  

@Ryan Spearman I have definitely thought about it as a way to mitigate risk.

Nope, but at least you can mitigate that risk and be in this business long-term. 

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.

We are trying to mitigate the potential that we drop the foreclosure, re-write the note, receive one payment, and are back at square one when they default.My original plan was to ask them to consent to judgment, and potentially execute a lease.

You can mitigate your lack of experience by hiring a professional property management company.Originally posted by @Steven W.

It helps us make decisions about what to do to mitigate taxes much quicker.

It depends on proximity to other areas....something I often see overlooked here when it comes to "bad" properties is whether not they can offset, mitigate or compliment a development.

@Alan Miegel, I wouldn't pursue the plan as you laid it out. Breaking

You can even aim for MFH there and turn a duplex or triplex into a cash cow with 2 units as STR's or diversify your streams of rent & stick one long term tenant the to mitigate during slow seasons of Airbnb.