Risk can be mitigated in markets that are stable or have modest growth during dips or in sub-market locations that are desirable.  

NY  PA  for instanceother states you like to loan in because foreclosure process is super quick and the above is mitigated a bunch...

I have application with clean background checks and credit score of around 680Income to rent ratio is 2.5.I have asked for a consigner.However I am wondering if There are any other options worth pursuing to mitigate the risk - such as ask for 3 months rent as deposit instead of one month ?

If they broke the lease/abandoned the property, I would be able to sue them for rent for the remaining lease term for the period I couldn't find replacement tenants (MA requirement that a landlord mitigate). 

Tread very carefully and look at mitigating your downside as much as possible.  

Mitigate your risks by doing lower risk deals, being conservative with your estimates, and always running your own numbers.

You can live on $72K/year and continue to grow your business.Now, you may even mitigate that 40% tax if you cash out and invest your IRA in January.

How does a short sale mitigate 1st, 2nd and 3rd mortgages?

I figured that would help to mitigate those situations.

Of course, we have proof it is coming from exterior source, we mitigate the problem (hole/crack) and spray but anything ongoing is up to the tenant.