in a moderately low-risk market, given my low risk tolerance.

FEMA implemented Risk Rating 2.0 in 2021.

✅ No risk, no cash out of pocket✅ You work with, cooperate with, the homeowner instead of negotiating against them✅ No tenants and toilets✅ No maintenance or repairs✅ Short-term deals with sizeable assignment fees✅ Those fees can fund long-term strategies like buy-and-hold or fix-and-flipIf you’re an aspiring investor looking for a low-cash entry point into real estate, Cooperative Assignments are an effective strategy.  

We make money no matter what happens, and we have reduced our risk. 

Quote from @Brittany Kelly: Quickest way to put single family home rental into LLC.

Screen them to determine a level of risk, and then decide if and how you will mitigate the risk.In this case, the risk appears to be an eviction from five years ago.

How do we stay in the real estate game while minimizing our risks? 

IMO this is much too little additional return to put your personal residence at risk.  

It's just an accident waiting to happen IMO.Why take a risk?

It all depends on how your agent is able to convey the reason of the contingency and negotiate with the listing agent (As listing agents, they want to mitigate risks for their clients as well).For Condos in the Bay Area, you could be exposed to higher risk because of the new SB326 Balcony Law.