This also leads owners to ASSUME simpler is better when it comes to management contracts.

Plus, we revise the vision yearly at QB, our Chicago General Contracting Business, because it is constantly changing, and it's not my vision...It's the business's vision.You can do a business vision or a personal vision. 

but working with someone who is local to your market, who can show you their legal documents that they have used, introduce you to a proper title/attorney office for drafting documents...I mean, nothing is foolproof...but that route will have a significantly higher success rate. 

If you believe you will be financially ready to build a year from now, perhaps you enter into a lengthier contract where you can obtain all of your building approvals and then settle at a later date.

Keeping your license and avoiding any legal issues is probably worth more than this one transaction.

Quote from @Shaylynn O'Leary: Hello, I' m a newer investor in the process of getting my first property under contract near where I currently live.

But, what I'd do, is cite them for breach of contract first.  

On the business management side, I've invested roughly $10k into the systems for financial and operations through courses and consultants.A great Facebook group I'd recommend Remodelers Community -- I know it says remodelers but this group has a resource called the "remodelers vault" where members have pitched in their resources like contracts, cash flow trackers, QC checklists and more that are invaluable starting out as a residential GCBest of luck, you got this

Do not rely on it for legal advice.

For US government purposes, our legal residence is a family member's home where we stay when we are in the US.Thanks for the DSCR info.