Their water mitigation included the removal of their side of the drywall between our units and in doing so they say they found mold on the inside of their wall and mine (in the space between our walls).Now, they want me to remove an entire wall and built-ins in my condo at my expense.

While I know that there will be a steep learning curve when I get started (my timeline is mid-year), I'd like to mitigate the mistakes I make, to ensure that I don't get frustrated too bad in the beginning!

If you are seeking to get financing, your primary role is to demonstrate that you have given lots of thoughts to your risk profile, and that you are capable of mitigating the risk of default.

You would have to speak with your CPA to discuss exactly what your tax burden would be and the best way to go about mitigating that burden. 

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.Google Clayton Morris and/or Morris Invest for a cautionary tale of what not to do when buying turnkey real estateUnderstand you can not eliminate all risk, only mitigate it.

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.Google Clayton Morris and/or Morris Invest for a cautionary tale of what not to do when buying turnkey real estateUnderstand you can not eliminate all risk, only mitigate it.

Every mission/operation has some risk, the trick is to find ways to mitigate that risk to acceptable levels. 

My suggestion is to add at least 25% to the cost of the foundation repair as mitigation to the problems that will come from the foundation repair.11.

That might not be the best option to mitigate risk.

That said, if the property is on a crawl, lots of times you can mitigate for the cost of a few years of flood insurance.