One semi-radical thought that I had which I probably won't do, because it doesn't scale, would be to buy a beater car and just leave it parked at the house(s) to give the impression that someone's there.Ultimately, provided my remaining appliances all work, I'm going to be out about $4,500 if I pay for new mechanicals out of pocket.

Not sure what kind of lending mechanism I will need to use.

I've worked in middle management for over 10 years in an auto insurance company.

I’ve been a mechanic all my life and have a background in construction.

Make statements and late fees auto from the start.

What’s the best contract mechanism to cover yourself in the event legal action is necessary?

I think the ideal would be an ACH auto withdrawal every two weeks.

He has the W-2 income, and I keep credit card/auto debt on my credit. 

.* Get a realtor to put you on daily auto-emails of properties listed at Price/sq ft 70% or less than area average price/sq ft and/or with motivated sellers keywords like motivated, TLC, invest, potential, opportunity, bring all offers, short sale, as-is, seller financing, owner carry, desperate, must sell, fixer upper, handyman, rehab, repairs, problems, issues, foreclosure, REO, bank owned, distressed, probate, death, estate, etc.* REO lists (BP has one, HUD has one).

I'm currently eyeing a listing that's in a good neighborhood in an up and coming area, but it's next to an auto body shop, and there is a fairly large apartment complex behind it.