The first is forced appreciation will create meaningful value.

Yes, it's a slightly different asset and that carries risk... as well the developments are larger in scale which carries risk.My guess is that they will be too stubborn to give up any meaningful equity, and the deal will fall through, and I will partner with another developer to get them a similar funding arrangement if they can present compelling opportunities.

4) Am i doing everything I could to extract every value from this property?

Is drilling likely (or other mineral extraction)

Too many deals out there are filled with junk fees extracting all the profits for the syndicator, leaving the passive investor with all the risk and reduced returns. 

Only your personal tax and estate advisors know your situation well enough to offer meaningful advice on these matters.

Plan: It sounds basic, yet so few real estate professionals have a real, meaningful plan.

And working towards a meaningful goal, that helps you accomplish your overall purposes in life, in my opinion, gives you something greater than day to day happiness.

Others are more focused on a life-centric investment(s) that will allow them to achieve something more meaningful in their life.  

From there get good at developing deep and meaningful relationships, not transactions.Best of luck and call anytime, Shane