I mean, honestly, people here talk tough game but if you're not putting in a ton and if you're fairly comfortable it will rent even at 50%, you probably will break even not far in the game.As for the flood zone, I would look into what past damage that may have done (yes, mold) and if it's been handled/mitigated after the flood.

In this particular case the acquisition price was low enough to mitigate these issues.`1You mentioned you like to fix everything yourself.

If so, how do you mitigate these things in a way that is fair to you (profit is made) and gives the buyer has a high (lets say, >80%) of success all things being equal?

I've also looked into corporate leasing, travel nurse, and other STR (but over 30 days) to mitigate Airbnb risk but haven't had any luck yet.

That way you mitigate your market risk. 

Are these exaggerations or examples of situations that can be mitigated with the right property management in place?

Asbestos flooring is one of the easier to mitigate types of asbestos material.

So, can I mitigate this risk through proper screening?

These are the sure ways you can mitigate some of the tax deficiency. 

Of course you can never completely remove risk, only mitigate.