Also have 2 CA properties seeking to minimize taxation.

It's because typically people say they want financial freedom but are looking for an easy button where they do minimal work and all this success happens in their life.

What are the best strategies you’ve used to minimize this risk and keep projects on track? 

One hill I will die on is optimizing for minimal assembly.

If you want to minimize your risks talk to your Banker, Realtor, other investors.

This was buying dead brands where PROFESSIONALS in those particular industries in question couldn’t avoid bankruptcy and every single major brand in those industries failed to bid even a minimal amount to buy those brand names  - because they knew those brand names were worthless.  

Seems like a nice bed of cash coming in to use as a launch point - plus minimal cash out the door on initial purchase.  

I recommend starting small and looking for turnkey properties to minimize the stress of managing rehabs.

You'll have quality tenants, minimal hands-on management, and lower potential maintenance issues.

@Thomas F Blaskey If your gain after expenses is minimal (~$15K), selling outright is straightforward, with modest taxes on the gain (15%) and depreciation recapture (25%).