How to know what Investment Strategy's Best for a Given Lead

[Jeff Kelly]

I have read (I forget where) a little bit about how some experienced RE investors simply generate as many leads (I'm referring to distressed homeowner leads here) as they can, and then decide what investment strategy / exit strategy is best for each individual lead. And they might flip one lead, rent out another, owner-finance another, etc. I recall reading or hearing that you can base that decision on things like how much equity is in the house, how much work it needs, market conditions, etc. Much of it is probably just common sense but I'm sure some have gotten this down to a science, and I'd like to better understand how they decide such things. 

Is there anyone here who can give a rough outline for how to decide which strategy would be best for any given lead? Maybe there's a decision-tree or flowchart format for this kind of analysis? Or some Rules of Thumb, perhaps? I'd like to be able to look at an incoming lead, talk to the homeowner, and basically have something like a Swiss Army Knife of solutions / strategies in my head, and be ready to offer the right one for that particular house. Thanks.