The better expectation is to try to mitigate your house expense.

Vetting tenants, regular inspections looking for cap-x expenditures, pre purchase inspections also mitigate risk.

Unless you take action to mitigate your rent loss, then you don't have any rental loss.

Samantha,I would recommend shopping with several independent agents (ones who represent many companies) and also look for recommendations from other property owners in your town.Be up front with the situations, let them know the mitigating factors (inspection, contractor, etc.) and if there has been a cancellation or non-renewal issued.

[Solicitation removed by Mod - J Scott]   This is a great model and mitigates your risk as you are only out a little money and time.  

Advanced rent doesn’t mitigate risk it just kicks it down the road.  

I have found that the best way of mitigating this risk has been to focus on buying the real estate not the tenant or the lease.

The legislature claims to have passed this new law to help mitigate the housing crisis in California.  

I understand there are risks involved with investing in real estate, as well as any other for that matter, and I will certainly do anything I can to mitigate that risk as much as possible.

I firmly believe that diversification, in the stock market (or similarly traded asset if not a stock, such as a REIT, fund, MLP), and diversification in my real estate assets is one of the ways you mitigate risk.