A: To determine level of riskEven someone with a perfect application presents a level of risk; it's just so small that a small deposit is sufficient to mitigate the risk.

It is essential to have cash-flowing properties IMO to make sure you stay solvent, get approved for loans, mitigate risk if the market falls and make sure you don't have to sell or refinance constantly to raise funds.

Checking your work with more than one model should help mitigate a lot of that risk.My hire so far is an Executive Assistant, who works primarily on sales and marketing activities.

In the future the way you mitigate this is to do some quick math....For every 18 plus year old living at the place, automatically count on another adult living there.   

Funding your rehab with equity as opposed to a private lender mitigates your downside risk but also dampens your upside.

During the next decade, real estate prices and rental costs have skyrocketed, and those who have been investing throughout this period have enjoyed extensive growth in their wealth and finances, while those sitting on the sidelines have been getting priced out of the market more and more by the day.That’s not to say that there won’t ever be a downturn or any problems, but the reality is, most risks can be mitigated up front by investing in the right properties and the right market.

I'm wondering if you have pointers, people or ideas for maximum tax mitigation as an NRA?

You may also want to look into the Texas’s series LLC provision as it might help you mitigate some state level registrations as you grow. 

That said, many leases address breaking the lease (ie, what the penalty is)Some states do not require that you attempt to mitigate losses and a tenant can be held responsible for the entire term of the lease financially...If they leave the place in good order and pay you all the rents due, I'd just find another tenant.

This would be beneficial because I would have something physical to follow exactly to a "T" to help me avoid any potential roadblocks or things that could be mitigated with a good system/checklist.