And use insurance to mitigate the liability risk.  

Hey all, I've come across a property that's deeply discounted because it requires Meth Mitigation.

Which notes are in the due diligence stage, which as in Loss Mitigation, which ones are in the foreclosure,... your tasks for today/this week.... as you move a property from one stage to another smart automation applies tags, triggers emails, ....Then, when you click a property, it gives you all the information.

By teaming up with a solid firm you can mitigate your risk and have some "boots on the ground" that have your best interest in mind.

If you were to not hold it as an LLC, your expenses could still be deducted to offset the revenue, so as I said, no tax benefits to the LLC, although it may help to keep your dealings more professional and make it easier to track.I like the LLC model, as your downside risk is substantially mitigated if you are doing things properly.

Lunches stretch out, breaks become more frequent, etc.  

Your policy can allow for mitigations, such as the additional payments, for an applicant that scores low.Beware of self-bias. 

Landlord wants highest rents, annual rent increases with personal guarantee on the lease, and disclosure of ongoing sales to see trending health of the business to mitigate risk etc.Tenants want low rent, short term lease with early termination outs, no personal guarantee, no disclosure of sales, rents that go up in blocks every 3 to 5 years instead of annually etc.This is why when you develop a site as a landlord you want the best of the best site so you control the terms of the leases as many tenants want to be there with only so many spaces available.

You have a duty as a landlord to provide safe housing, and they did make an attempt to mitigate,  they just needed to do a better job. 

you can pretty much count on paying around 25% in taxes plus another 10% penalty, not that I'm against using retirement money and there might be some ways you can mitigate those amounts, but if not, 35% is steep.