That alone will go very far in mitigating risk.2nd, when evaluating buy and hold rental property, I believe it is critical to analyze appreciation as well as cash flow, as both will significantly affect your profits over the long haul.

Like Holly said, big jumps, esp in the last year... but we attempt to mitigate by staying out of flood zones.

I aim to mitigate as many mistakes or setbacks as possible.

Our screening determines a level of risk and I'll rent to just about anyone if I can find a way to mitigate the risk.

But for you this may not be the right answer.My reasoning ties into the philosophy of capping the downside aka mitigate risk to put myself in a position where I am able to place large bets in my entrepreneurial endeavors.

Always trust the little voice...at a minimum running your concerns by a mentor/someone you trust.For your portfolio, have you considered MTR's to mitigate the risk with STR's? 

Your in-laws will benefit from receiving a designated amount (a CPA will be able to calculate this amount for you) to reduce, or potentially mitigate the total tax implication based on their marginal tax rate brackets.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Google Clayton Morris and/or Morris Invest for a cautionary tale of what not to do when buying turnkey real estateUnderstand you can not eliminate all risk, only mitigate it.

Look into turnout times/cost for zoning/rezoning.look into traffic mitigation due to development.

I have the bank phone number and am going to try and call the bank and talk to the loss mitigation department.