@Frank DiGiorgio That seams high, it really depends on year of construction, 4 point and wind mitigation reports.

.- Tenant abandoned property in late June - lease ends at end of Sept- We will fill unit by Sept 1, so everything has been done to mitigate losses.- I want file a judgment for lost rent from July and August.Is my first step to file for a judgment in Chicago via an evicrion attorney?

(You invest and make a return and get to learn from the syndicator at the same time) Part of mitigating the risk is finding someone way more experienced than you with a track record of success to invest with - the chances of them successfully executing a real estate investing strategy are higher than you since you have no experience yet, and since you said your hands are pretty full with your kids, this sounds like it could be a good option for you.

Of course, one way to mitigate the risk is to properly insure the property.Any comments on my thoughts about risk?

One of the reasons I'm here on BP is because I want to learn from others how to mitigate the risks of real estate-- vacancy, repairs, CAPEX, tenants, neighborhood decline, etc...

Others might be fine with taking risk, but least by doing this a person can get an idea of what might go wrong.e) Legal document analysis: it will usually take a few days to go through the legal document properly, as almost inevitably there are tons of gotchas that either have to be explained, or mitigated with a side letter.That is the very short summary of what I do.

The loss mitigation reps are clueless to the area and the condition of the home...

I know in REI there's risk but I think most would agree that you do all you can to mitigate risk. 

Risk management is important, and there are many way to mitigate the risks, yet no way to eliminate it.

In today’s world post covid rates and terms have gone up significantly to mitigate additional risk.Also expect to pay full asking price or little more for property with owner financingCan you get decent deals still - yes but it’s not like they are in abundance.