Around here (from my understanding) it’s standard operating procedure to clean up the contract.

The potential risks would be things like lessors over grazing/putting more cattle than allowed on the property, wildfire/natural disasters, still having exposure to cattle prices IE lease prices drop, things like that.

It will be added to my vetting procedure list I am concocting.

As well as procedures for delinquency etc.

You will want to get on the same page as far as policies and procedures. 

And your natural defense of "I intended to assign the contract from the beginning" will backfire as it will then be used as evidence against you that you are brokering real estate without a license.

Your chances of having the bank call the loan due it as likely as your home getting destroyed by a natural disaster, but in my opinion it's a risk worth taking.

Write a small bullet list of what you need to discuss and the questions you need to be answered and let the conversation flow naturally from topic to topic.Don't forget that a not so small part of real estate is being a professional therapist.

@Jordan Moorhead Austin is booming , I remember back in the day flood and natural disaster would scare Investors and homeowners away.

If SIP has taught us anything, it is that, it is human nature to want to collaborate and socially interact with others.