A partnership could provide access to funding and knowledge-sharing while mitigating some of the risks associated with your limited experience.Hamlet

What systems do they have to mitigate risk?

Here are some strategies to help mitigate these concerns:1.

Instead of renting out the property immediately, I decided to shift gears and explore a fix and flip approach to recoup my investment and mitigate holding costs.Market Timing: I closely monitored the local market conditions and strategically timed the sale to align with an optimal selling season.

Screening helps mitigate that some.  

Is there anything I can do from a legal standpoint to mitigate potential risks?

It's like any business, there are unscrupulous players in any space and you have to expect the unexpected and do your best to move on and continue while mitigating as much risk as you can.As far as specific note deals, we've been wiped completely on loans.

Do another live-in flip, or house-hack a multi if you find an off-market lead (this could help mitigate the risk of the hot market a bit)I hope you get something from this, reach out anytime with questions and if you're not too far check out our NH county meet-up when we get it rolling again the first Monday of every monthin the meantime keep crushing it!

Pest control mitigation.

This mitigates the risk.