I want to mitigate any risk for you. 

This exists; it's just not in the 'normal' Jumbo market right now b/c of the secondary and lenders' risk mitigation.

Before the project & during the projectMAKE SURE YOUR COMPS ARE ACTUAL COMPS & TRACK YOUR NUMBERS ALL THE WAY THROUGH YOUR PROJECTBuy at or below 65% of ARVTHIS WILL GIVE YOU ENOUGH ROOM TO RENOVATE WITHOUT USING UP ALL OF YOUR EQUITYBe ‘all in’ for less than 75% of ARVIF YOU FAIL TO SELL THE PROPERTY, YOU WILL HAVE ENOUGH EQUITY TO REFINANCE & RENT OUT THE PROPERTY TO MITIGATE YOUR LOSSES356 Chestnut St.

@Nuo Shi purchasing a property with existing tenants certainly has it's risks, but it seems like you are asking a lot of the right questions to mitigate that risk.As it has been stated many times before, existing leases come with property, so what are the terms of the existing leases?

@Ferry Vendy partner up with the right operator who has a strong background and track record and you could potentially bring in $500-700 / month in Net cash flow with no extra time commitment while greatly mitigating your downside risk. 

Risk Mitigation: 1.

The Scrub Jay mitigation costs about $2,200 from what I've been told.

We made sure we were well-insured and had professional property management to mitigate risk.

Mitigate risk as much as possible when you get started, but keep pushing through even when the returns aren't exactly what you expected.

@Damarius Gilbert - from my experience the high cash flows mitigated the risk of PCS/TDY lease breaks.