I've done a lot of research on mitigation and have tried several techniques.

It was sent to me by the Loss Mitigation specialist at Litton.

Thanks everyone...one thing to add if you don't mind, do you all think that tile upstairs would better mitigate any water issues from the usual suspects, toilet leak, sink, I have seen it all....I mean as opposed to carpet or wood upstairs.

Unlike some that like to assign "blanket" risk dollars to every potential deal, i evaluate and mitigate my risk on a case by case basis.

There is a huge push back by state and local officials against upfront loss mitigation fees.

In some states there are mitigation of damages clauses that require you to attempt to find a replacement tenant for her since she moved.

Picking up the SFRs at 50-60% of what similar good-condition houses are selling for in the area is a tremendous risk mitigant and offers an attractive alternative re-sale exit strategy, to generate cash (if desired) for your investing machine down the road a bit.

We mitigate some of the risks by managing the back office functions of the local licensed property manager by making sure our system tracks virtually everything which is available to the investor 24/7.

They do not seem to have a hard and fast rule and from what I hear it likely comes down to differences in particular BofA mitigators.

Application screening determines a level of risk, then you either accept the risk, deny the risk, or mitigate the risk.In this case, it's an established company that is going to pay their bills.