Partnering can mitigate risks, reduce financial burdens, and leverage the expertise of others in the industry.

Definitely properly screen the tenants....I try to mitigate a lot of nonsense by askingDo you have any animals or pets?

Risk Diversification, Having many units in a single property can help to mitigate the risk of vacancy.

Sorry for the rant but I just feel like this is a gaping hole in my real estate investing acumen and could alter my strategy if I can't figure out how to be a buy/hold investor while mitigating personal liability risk with a legal entity. thanks in advance for your help and responses!

@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.