This can be mitigated by asking for copies of orders at the beginning to determine if they are ALREADY slated to leave before the lease would be over, and asking for them again if they try to use the clause...because sometimes the transfer is only for a few months (for schooling or something) and they may just be trying to get out of the lease.In general, I would prefer military tenants (especially if they've been in for MORE than 4 years...meaning they committed to re-enlistment) over just about any other tenants....but I admit, I'm pretty biased on the matter. ;)

This is purely to mitigate risk and spread vacancies.I would not recommend a pad site to anyone.  

- Danger, Danger, Danger;   You treading on thin ice.  

I understand that every real estate market is separate unto itself, but how do larger macroeconomic factors present hidden opportunities (or build dangerous bubbles hidden to the average investor)?

It is way to dangerous. 

That may test your friendship, so predetermining it early will help mitigate any bad feelings because you agreed and put it on paper.I would also recommend adjusting your splits on a deal by deal basis. 

The question posed was, "What are the most important items in NPN risk mitigation".

I got some Rich Dad Elite training in Wholesale so I know enough to be dangerous. 

Therefore, it's also dangerous for you to make statements like these because you have a lot of influence on the community of out of state investors. 

How do you mitigate the conflict of interest between being an Investor AND a Broker?