It's my job as an investor is to anticipate and mitigate risk, right? 

Is that just a level of risk you're comfortable with or do you have measures in place to mitigate that risk?

I like to be 70% leveraged at my maximum point, so unless theres a serious crash (which is very unlikely in my market, based on every metric imaginable), I'll be able to mitigate my risk

Of course, you must also have great property management making sure that your carefully selected tenants are receiving the quality of service they expect and hopefully that manager will be able to manage contractors and maintenance calls efficiently to mitigate the issue that @Kyle Lewis raised...contractors can do you in! 

Instead of securing the loan with just one property, the lender combines the value of multiple properties to mitigate their risk.

Replacing gutters and trenching around the house in the spring to help mitigate water away from house.

With a properly structured LLC, you can mitigate many risks of being a landlord/investor and protect your personal assets.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Understand you can not eliminate all risk, only mitigate it.

To me, purchasing an existing under-performing storage asset and turning it around provides the perfect balance of risk mitigation, cash flow (eventually) and equity!  

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Google Clayton Morris scam and/or Morris Invest scam for a cautionary tale of what not to do when buying turnkey real estateUnderstand you can not eliminate all risk, only mitigate it.