Any legal safeguards I need to take?

The problem with getting someone's actual SSN on a paper form or online in a PDF file is that now you've got to safeguard that data like it's a dang nuclear launch code.What if you have employees?

ie it might be based on a certain DCR of say 1.25 with some other limiting safeguards built-in.

These sorts of Safeguards will reduce the amount of your fear in getting started flipping houses.

You cannot shift your financial obligation to another person without consent of the party who is owed, this is a unilateral agreement where the lender relies on specific performance of that borrower, they never had an opportunity to safeguard their investment with Joe Blow, this places the note holder in a position of accepting risk they otherwise would not have accepted.

So I've been trying to come up with a more overall outlook to try and guide my investments for the near future..I understand the view that David shares on the podcast about how the demand is still strong and there have been safe guards put in place to help try and prevent another '08 crash and I agree, although I'm biased as I'm a general contractor and real estate investor.My question that I cant seem to find an answer for is if there are any other indicators to watch that could be compared to '08 such as vacationing and frivolous spending.

After foreclosure you can't just walk in and rehab the place, it's collateral, you can make a repair to safeguard the collateral, but don't start adding on unless you want to give the past owner more money. 

For menial tasks I would use Odesk or Elance etc.I do not let them have access to what I consider needs to be safeguarded as business secrets.I would only let a person on the ground here have access to that.

I would be interested to know as well, how to execute and safeguard your interests in these kind of deals.A lot of guru's preach Lease option strategies but I really don't have the trust in them and their preaching.

The main safeguard no matter what strategy you pursue is to avoid overpaying for property and to look for deals that are below market.Looking for 2% in coastal San Diego isn't going to be successful, but I agree with one of the other posters that 1% can be found if you put in the work.