If you're not familiar with executing on value add strategies or construction or construction management, then maybe stick with turnkey cash flow until you or someone on your team is comfortable and can mitigate the risk of value add

To further mitigate risk, I'd rule out properties with old roofs, old HVACs, old hot water heaters and so forth; your annual expenses should be quite low. 

The other two ponds, I had to do a Stream Mitigation Credit study/analysis. 

I am sure there are some that are potentially lenient on this if you have mitigating factors. 

If so, what did you offer to mitigate risk?  

I haven't seen anything like a normal walkthrough that doesn't involve some type of impersonation or trick to get the occupant to open the door or being a peeping tom.Is the mitigation for this risk to just assume the worst and keep bids low?  

The property owner is saying that the carpet and walls had animal urine on them, and there is a persistent smell that just won't go away (tenants claimed they had dogs, but property manager believes they may have had a cat that they did not disclose).This is what the Property Manager has done to mitigate the smells thus far:1) Brought in ServPro to mitigate the smells2) Use "OdoBan" on all the walls3) Brought in their own Ozone cleanerThe Property Manager is recommending the "nuclear approach" and replacing all of the carpet, flooring and painting the walls, and we feel this is quite excessive, not to mention extremely expensive!

However, if the debt is replaced by taking on an equal or greater amount of debt on the replacement property, it might help mitigate the boot issue.

If you can't find a good replacement then don't turn in a list and pay the tax - no one ever went broke paying tax on profit - it just feels like it.The 45 days is so real that I actually put an entire section in my book on mitigating timing issues.

However, the arrangement triggers some special risks for buyers and sellers, and it's wise to engage professional help to mitigate those and allow the process to run smoothly.Read this article for more information https://www.investopedia.com/a...All the best!