Do you feel that these risks could be mitigated with certain safeguards in place, like double-checking title insurances and ensure the third-party firm is repitable?

The first year I followed the above I more than doubled my net income.

Double closing and EMD are my goals right now.

Inside a retirement account, you still get all the appreciation and rental income that adds up massively over years and the returns are usually well over double digits.  

If you're just putting them into a mid-term rental agreement though (at a higher rent) I would demand a double security deposit and get them in there. 

Check your state, but double closings are usually legal.

Pretty much any market right now is going to seem overpriced when you look at price to rent ratios and it's a rocky time to start flipping with rates doubling in a couple months.

The difference in rent is about $300 with the lower rent being in the less expensive home that has not increased a lot in price, the other was almost double the price and has more than doubled in price (that market is nuts)...so I get a less rent relative to the price of the home, but the increase in the value of the home more than makes up for it.

Finally, have your PM screened, double screened, & triple screened before you sign a management agreement.

However as a rule we have a baseline credit score (620) if they are below that- all applicants for the home combined, then we automatically require a double deposit (or higher deposit if double isn't allowed in your state).