Buyer before I start a Rehab?

[Aaron Bitner]

I've come across an interesting situation where I'm about to start a Rehab and may have someone that is interested in securing first dibs on purchasing it before we start. They like the idea of a newly renovated home in their price range that they can add personal touches to. I like the idea of having a built in buyer. I would appreciate some feedback on pros and cons and best practices to protect everyone's interest.