We have a healthy appetite for risk in terms of taking on projects that maybe others wouldn't, but the equity needs to be there to mitigate this kind of risk. 

Then need to know what water flow mitigation is needed if any by the city or county. 

I saw that you had stated that you had certain clauses within your lease contract governing pets and I have seen several thoughts on how to mitigate risk by keeping dogs to a specific size, breed, etc.

The bank will always give you the run around I've faxed the same documetation 5 or 6 times to the loss mitigation department and they always say they don't have it.

Out of state pros/cons-  The reason I was thinking of picking up several properties out of state was because of risk mitigation.  

I happen to ask him, in total disgust at the thought of writing another one of those estimated tax checks, how I could mitigate this horrendous tax liability.

All things considered, if it was me, I would strongly consider mitigating my loses and get the tenant out asap. 

Also curious to hear what you have done for risk mitigation on your properties.

Be sure your contractor understands the mitigation required for a fire-damaged home.

There are a number of strategies you can use on the front end or the back end to mitigate the tax implications.