The key is keep pushing forward while avoiding basic mistakes.Use your fear to your advantage. 

He can basically fix anything and since he’s already on another job it’s nothing to run him over somewhere and only throw him like $20 for this or that.

It’s finding the right educated/experienced contractor to pull it all together is the trick. 

My slice of advice would be to education yourself to get the basics down, listen to the podcasts, read countless books and keep educating yourself as you begin to actually invest. 

When you work in any industry you pick up habits and tricks that make the work or product better. 

We had to know the basic concepts and lingo.

Or I could make it for what I believe is lot value, in which case, who cares what the repairs are (other than the fact I plan to do basic repairs for rental usage until the property appreciates for new build).  

If not, you are basically comingling the personal asset(Its your loan, not LLCs) with the LLC's asset and that defeats the purpose of having the LLC. 

Could you explain to me the basics of lease options and their benefits?

Would GREATLY appreciate any tips and tricks to minimize this occurrence!