You’re acting as the assignor, so once the assignment agreement is signed, the buyer takes on the financial responsibilities outlined in the PSA, including the EMD submission.

These are very different than the fees outlined in the paragraph above.

Do I draft the contract price for higher than the actual build price that would include our estimated profit (sell price) or would a separate agreement between the lot owner be sufficient enough that outlines the deal since we don't know the actual sell price until it goes to market?

Starting with BRRRRs and creative financing is a fantastic way to build your portfolio, especially within the local counties you’ve outlined.

I’d recommend reviewing your lease terms and following what’s outlined there to ensure you're on solid legal ground.

Great outline. 

Standard procedure should be as follows (and clearly outlined in the Lease):Rent is due the first of the month. 

This will provide a good outline/road map of what you can focus on for your first acquisition.

You can clearly outline who owns what and how decisions will be made, which avoids headaches down the road.If you’re planning for the future, an LLC can help with estate planning.

Thank you for the insight and outlining it so thoughtfully for me.