My assumption is that the steps are:Zoning checkContact lenders and start the conversation, finding out requirements.Draft sketches and send to engineering and plans.Take plans to GCs and get quotes.Takes quotes and plans back to lender and acquire loan.Do I have the order correct?

Is this assumption wrong? 

I would triple check your assumptions concerning rental rates, occupancy, and expenses, being sure to include an annual repair allowance in your calculations.

Would love to know any ideas out of this situation - Just had our offer accepted on a duplex in Minneapolis under the assumption one of the units was going to become vacant before we closed.

If I'm doing the work, I want payment I made the assumption you had two actions going.. one by previous owner one by new owner. if as new owner you have to turn into collection agent then I agree I think old owner forfeits any rights to what ever you collect that's how i would view it as well. 

@Edward Adams what are the assumptions you are using for taxes and expenses in this market?

The reason for this is because the lender is ultimately buying real property and there are underlying assumptions they make that will vary by market.

The best assumption is to assume nothing and plan projects based on very short time frames and build in larger contingencies.

It's not fair to make assumption.

One of the things that frustrates me is that people make a lot of assumptions about what can't be done.