Apart from the cholea outbreak the weather etc was amazing. welcome aboard......

Some have blamed it on a guest or he might state that he was too injured to leave the unit - there are no mitigants to violating the lease term. 

There are all types of inspections to check for wind mitigation issues and so forth.

Preparation and planning an exit strategy is supposed to help mitigate the risks so it's the the end of the world if things go pear-shaped.

Yes it is true foreign (U.S.A.) dividends do not qualify for the dividend tax credit in Canada, but that does not automatically make them taxed at the top marginal tax rate, but at the receivers marginal tax rate.There are ways to mitigate (not eliminate) the high taxation storm you portray. 

I'd especially like to know about any mitigating factors - what would soften any price declines in this market?

It's fair to say that you want a heads up from her so you can start marketing for a new tenant to eliminate or mitigate any gaps in rent payments.  

Only way you can mitigate this is with a realistic budget and a 10% buffer. 

and your smart to be there and be on top of it.. if your not probably wont end up like you think it will. lots of risk.. but it can be mitigated with hands on approach.

@Irina Belkofer - I agree with you that if you ask a lawyer if you need any legal service, title company if you need extra title coverage, insurance company if you are insured enough you are likely to get the answer more convenient for them.I also agree that if you know what you are doing, and know the risks and how to mitigate them, then you know what you are getting into and should not cave to fear.