This is standard procedure for most builders these days and is very helpful for communication, scheduling and budget.Remember its all about relationships and as the developer you are the leader so its up to you to provide clear direction in no uncertain terms exactly what you expect and when then measure that performance and hold the team accountable to the goal in a way that is positive and encourages the results you're after. 

@Kade Eiguren  Look at your competition and their performance. 

For example if you have a mom and pop tenant based on 17 bucks a foot rent because that is all their business model can support but a national tenant wants the site and can pay 22 because of location not only can rent potentially increase but also that new tenant value can be a massive difference.Mom and pop at 17 a foot and an 8 cap for instance.Say 4,000 sq ft box X 17 = 68,000   (8 cap) = 850,000National tenant at 22 a foot. 4,000 X 22  = 88,000  (6 cap) = about 1,470,000There are expenses involved getting the new tenant but value difference can be massive.Leasing brokers can perform a (void analysis) which not only looks at rent comps for box size but also what existing tenants are in the market,saturation levels, and what possible tenants optimally could go in that space.    

If you own small multifamily out of state you have to worry about if the tenants will pay their rent, landlord tenant laws and eviction process which often favor the tenant, if the property manager will be hands on enough with the property to keep performing or will they overbill or steal from you? 

Thanks in advance.If you have a purchase and sale agreement that's duly executed, I think you could sue for specific performance to complete the transaction. 

You can find properties much cheaper in both markets but they will be in rough areas that won't perform well. 

Be sure they perform annual inspections and preventative maintenance services.

Most people will adjust their wants based on other things both tangible and intangible.That will give you the most reliable indication of possible performance.

@Lucas Carl I found where the horse/donkey show is performed at the 2nd stop in Mexico.

Most HML's will give you a POF letter after you met/talked with them if they believe you can & will follow through & perform.