A great example of Occam's razor: "of any given set of explanations for an event occurring, the simplest one is most likely the correct one."

Boiled down to it's simplest form using financed funds (mortgage) is purchasing TIME. 

I think the simplest, cheapest option for installing heat with the least maintenance issues - are baseboard electric heaters. 

That would probably be the simplest thing to do, since it's not likely you'd collect anything from her. 

@Praveen Balaji Painting is one of the simplest ways to get a rent premium... tenants will ignore other items for a freshly painted home.

This is the simplest method, but it also means your tenants are more likely to abuse the utilities by leaving windows open with the heat or A/C running, leaving lights on, ignoring the toilet that constantly flushes on its own, etc.3.

The easiest way would be to buy a commercial property :)It sounds like you are only interested in residential which to me (I’m small time but have residential, retail, office and flex commercial properties), is the simplest.

I would like something simple stating he will receive 1/2 of proceeds at the time of sale.

If rents are significantly below market, then raising rents is the simplest method.

Chapel Hill Chapel Hill is probably the simplest of the 3 "Triangle" cities to explain.