My original plan was just to flip this like everything else.

Should you perform maintenance?

Track your deal performance on a spreadsheet.

Originally, I was hoping to have the property owner hold the property while I take the agricultural property through the feasibility study and rezoning to have paper lots approved by the city I choose to annex the property into.    

That new part of Chicago near Schaumburg is great...I am pretty familiar with it because I am originally from Elgin.I know personally that I create undesired stress by taking on too much too fast.

I am trying to make sure I am only enforcing the lease and not reading it with a biased perspective.I would happily consult an attorney for a reasonable fee (any recommendations are welcome.)The original annual lease had an end date of 3/31, if that is helpful to know.

Sorry, I should have provided that detail in the original post. 

The original post doesn't seem to elude to that. 

Did you obtain lien waivers for work performed?

Even if I were to collect the late fees it doest’t materially alter my properties performance and my tenants appreciate the flexibility in the very rare circumstances where they are late.