First time potentially investing in a flip - advice please!

[Brian Kerr]

I've been given the opportunity to invest in a property flip - after reviewing the pro-forma and budget, I'm pretty happy with the numbers and the potential returns.  I've purchased many homes, and have had a few rentals, but I've never invested in a developers project.  I was hoping the community could provide some guidance on what the process typically entails when contributing capital and any steps they've taken to protect their investment.