And if so, what steps should I take to mitigate risk? 

I don't come from a background where investing and entrepreneurship is normal, so it feels like I'm doing something unusually risky even though I know there are a lot of things that I can do to mitigate risk.

Every market has its pro's and con's - Oklahoma has some of the highest insurance premiums in the country because of the weather, but it can be mitigated by having a solid roof, siding, etc.

Inflation-hedging strategies enable individuals and businesses to safeguard their assets, mitigate the erosion of purchasing power, and preserve long-term financial goals.

Have a contingency placed in your purchase agreement to mitigate for this. 

This is my fear talking here, but have you ever dealt with that and what did you do to mitigate your concerns?

There is no way to mitigate other than getting notifications when money is withdrawn. 

He is wanting to leave all his furniture in the house and is asking if someone can stay there while he's gone to mitigate his costs.

The HOA manager turned the water off, I spent 4 hours calling not only the emergency maintenance line for my PM but when I failed to get a clear time line of when they would arrive hired a locksmith to unlock the unit and a water mitigation company to come.

Note these aren't in any particular order or anything like that.Dayton, OhioToledo, OhioYoungstown, OhioCincinnati, OhioMemphis, TennesseeSaint Louis, MissouriIndianapolis, IndianaDetroit, MichiganErie, PennsylvaniaLouisville, KentuckyMilwaukee, WisconsinJackson, MississippiWhen you're going into a new biz and a new market you'll want to mitigate your risk as much as you can.