Also, imo, it is an internal contradiction to not have mitigation assets to protect in a risky investment platform such as REI.

The intent of this article is to provide our mortgage community with a guide, if you will, as how to mitigate and truly discern if the entity you are speaking to is truly a REAL lender.

Banks will most surely order one, to make sure they can just foreclose and try to mitigate as much of their losses as they can.

You will probably need to speak to a supervisor or upper management in loss mitigation.

Does anybody here have any great insight into this/options to mitigate such liability?

BUT Crazy can not usually keep a job for very long or stay at a rental for very long.Rentals are a big leap of faith that can only be mitigated by the income verification, past rent history verification, and little else. 

Things I have done to help mitigate:-expanded the sump pump basin, and put in a proper basin with 2 sump pumps with their own separate breaker and outlet.

How do you mitigate the risk?

I kind of agree with @Steve Rozenberg that this could create additional problems but you can mitigate that by creating a written agreement with the tenant that spells out the payment plan and that this is a one-time waiver.Here's my problem.

But that's going to be next to nothing given your purchase price.Owner carry notes can be a good way to mitigate a tax hit if you don't want to move forward with additional real estate purchase.