Get a written scope of work, fixed pricing, progress draws tied to completed work, and daily communication.

It really depends on what the upside of your project is, and then evaluate the risk with the tenants. 

:1) I'm now talking to owners of parcels with development potential.2) I'm now evaluating potential deals and networking in my area to gather the numbers needed to work the math (as taught in the course)3) I will soon start sending out letters of intent to purchase properties and then get them under contract.

This can help mainstream maintenance follow-ups, and track progress in real-time without having to directly contact the vendor repeatedly.Another option is to establish a routine check-in schedule.

You would have to evaluate each deal individually and compare each one to the S&P.

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Without understanding control, risk, durability of income, and the full lifecycle of the deal, you can talk yourself into or out of almost anything.The investors who last are the ones who evaluate the whole system, not just the headline number.Curious to hear how you apply this in your own deals.

How do you guys secure your flips in progress?

If smoking is explicitly prohibited, as stated in your lease, and you have already issued two notices, it would be wise to issue a lease violation and arrange for an inspection to evaluate any existing damage.

We keep them updated on our progress and status even when not in the middle of finance deals.