You have an inspection period but you will not conduct a formal inspection with a inspector.

It seems likely your loan officer will want to ensure formal leases are in place to reach any kind of real value. 

The deal itself is a great project and I don't anticipate any issues with raising the funds as most of us on the GP side have raised money for other projects, but none of us have ever had to go the formal syndication route. 

It does not need to be formal.  

What is the Difference between a general NCND and a Formal NCND?

I wanted to reach out to our BP community first to take the team building approach before posting a more formal ad...but I can only hold out for a little bit longer so please only jump in if you're serious. :)We have the territory of El Paso County, CO and Pueblo/Pueblo West doing Lease-Purchase deals.Any folks in Colorado Springs or Pueblo up for growing with us as a team?

My friend has said he asked about it years ago and was given hard core "What they did borders on fraud" and hardcore "This goes on every day.

I would like to take the opportunity to formally apologize as it was not my intention to insult anyone making the choice to become a RE agent. 

You could add an addendum into the contract to formalize the timeline. 

We didn't do any formal negotiations, just talked about our situations, and what we both needed, and what we could do for eachother.