.), this is unavoidable from what I have found.

I'm not a lawyer, so no legal advice, but I'm getting ready to rent my first home in MD so I've been reading up on the requirements, and my research has shown that in MD (quote):§8–112.If the improvements on property rented for a term of not more than seven years become untenantable by reason of fire or unavoidable accident, the tenancy terminates, and all liability for rent ceases on payment proportionately to the day of fire or unavoidable accident.So if the place was not habitable, looks like Maryland code says all liability for rent ceases on the day of the accident.

Thankfully between us we have a lot of bookkeeping and IT experience so there are some costs we are comfortable in not having to incur, however the bigger expenses such as lawyers and accountants seem unavoidable, and from what I hear it is pretty important to get your name out there quickly and effectively through an online presence and advertising so you can pick up deals earlier than others.  

I've heard frivolous lawsuits are unavoidable but never thought it'd happen so soon (first tenant).

In an SFR portfolio this unavoidable but you can do your best to try to get your SFRs to be as similar as possible and mitigate that risk.  

I just noticed you are from NYC, it is unavoidable in NYC.

I've never written about mitigation banking on BP before nor have I seen any other posts on this niche, so this is brand new information.For a one-page overview on what mitigation banking is and how it works, please check out this page: http://www.habitatbank.com/using-the-banks/But in short, when government infrastructure construction or high rise developers etc. in major cites unavoidably destroy natural habitat, they now have to somehow compensate for this destruction.

From my experience (gross figures), rental yields for long-term rentals:Lisbon (city center): 3-5 percentLisbon (suburbs): 6-10 percentSecondary cities: 5-10 percentAlgarve (main cities): 6-8 percentAlgarve (rural areas): dont go thereCosts of buying (applicable for apartments):Unavoidable are (unless you use a special vehicle with property tax exemption - details upon request):Transfer Tax (IMT): 1% on higher value of tax valuation and purchase price for properties below 90k, progressive rates for higher values.

I certainly don't completely trust paper and electron-based assets, or anything else that requires people keeping promises, although that's unavoidable for wealth creation, at least while the lug nuts still hold.Many years ago, Robert Heinlein wrote, "You never really own anything that you can't carry in both arms at a dead run." 

Your credit history is your friend in this line of work, as you want to be able to access the lowest interest rates from the best lenders.What if in the future you REALLY NEED to declare bankruptcy, say 10 years after college when you are a successful real estate developer, when one of your ONE MILLION DOLLAR deals goes unavoidably sour.