The concern arises when you're acting as an agent for others—there, the law is stricter.Since you plan to use the agreement for future properties too, it might be worth getting legal guidance upfront, even though the $1000 fee sounds steep.

Deposit Insurance Concerns: In many countries, bank deposits are insured up to a certain limit by governmental agencies.

I have done a little research concerning probate where I live and I am finding in my county the probate listings do not say if there is real estate involved.

I cannot afford for my first investment to not work out in my favor so believe me when I say investigation in my main concern right now.

From a rate perspective, likely is not close to making sense at the moment, would need rates to drop further, however if value has increased and you are looking for cash-out, that motivation (any lower rate as icing on the cake / secondary concern) it could make sense to look into

In one particular meeting I attended Jimmy Napier goes up after John Beck and rather than make his own presentation offers to clarify questions concerning John Becks presentation.  

He didn't exhibit any of the concerns the credit unions / banks did. 

Lots to learn, but nothing seems too concerning, as of now. 

The permitting process and the availability of reasonably buildable lots is a concern.   

I agree with wanting the first one to be a "win", I'm just concerned that makes it harder to find something that will cash flow.