I'd like to minimize my risks.I suppose one might say the point of including the Lease contract along with the Option is so that the investor can pre-negotiate the favorably higher rent for rent credits/Seller's positive cash flow.

I am just looking for your guys' input - as to the best way to minimize my loss.

Flippers typically want to know what the property will be worth once the home is minimally renovated.

Boarding up the home:Secure the unit ASAP.Measure up the windows and bring the measurements to depot/lowes and have them cut the boardsConsider painting boards to match the color of the exterior to minimize blightBring a REAL camera.

As a Californian myself, I know that it is virtually impossible to get anything to cash flow and even if you could get some minimal cash flow, the ROI is so low due to the high cost.

They tend to be fairly low risk, straightforward, and will generally take a minimal time to learn.

This would be a smart way of minimizing heating expenses.2.

The cost to me would be minimal.

Given the capital and credit situation I find myself in, cash investments in small quality properties concentrated in a small well researched farm area has allowed me to maximize my return and minimize my risk. at some point I will need to let go of some control and hire a local property manager or set up a group of investors to mutually manage our properties.

Rapid expansion can cause troubles too but being forced to wait 6-12 months should minimize that.