Upside: Area is growing rapidly, so my losses will be mitigated over time. 

But seriously, like @Scott Swanson said, any OOS investing has risks (heck for that matter something next door to you will too, but you know that), but having good contacts helps mitigate the risk.  3) Under $100K...that's tough, you'll probably have to go outside of the major metros. 

Opportunity Zone Funds are a great way to mitigate and even eliminate capital gains tax liabilities. 

I like mitigating loss of revenue if one tenant moved out and I planned to go into larger multifamily properties in my 5 year goals.

Like @Lorenzo Wright said, this property could go downhill quickly, and I think you need to mitigate the risk by negotiating repair for the larger items by the sellers. 

If it can mitigate your cost of living over the next few years, will cash flow when you move out, and there's not extreme volatility of the industry there (just a steady slow down) - I think it is worth purchasing. 2-4 unit owner occupied's are the best cash on cash in the game and a great starter education into real estate investing.

Most of these issues should be addressed in your lease.Second question is what does state law allow you to collect to mitigate your damages? 

Ultimately, it's your decision, and as long as you are making the best decision possible to mitigate the risk, you can't go wrong.

Thing is, they usually want you to have some of your own money in the deal, or significant equity, so if you flake out they can just take the house and sell it to mitigate their losses.

Want to know if there some ways to mitigate any risk buying a property without seeing it in person.