I love the idea of fix & flip right now @Abigail King, especially right now here in Chicago and I am sure it is similar for you in central Illinois -- it's winter so there are way less buyers and if you can get under contract soon you can likely rehab over the winter months and hit the spring market!   

There's a few GC contracting coaches out there that likely have a few tips that would apply to how you want to see this ran.

Get it under contract to close in 6-12 months when it is done.

You're the fish.They often use a mix of fear, threat and urgency to push a target to act.It can be as simple as a 24 hours sale from your favorite shop that requires you to log in to your account first or your boss asking you to wire money right now or he/she/they will lose an important contract that will cost millions.So cybersecurity is important because without that, you might have an incident that can cost a lot of money, impact your reputation and might affect your credit score.

So that $100k+ ED is coming from your pocket, before it can be reimbursed by investors.Legal Fees: you can't raise money without legal contracts setup.  

Our team has just gotten our first commercial property under contract and our time will largely be spent in these areas in the immediate future.

As an example, and I have had it happen multiple times; we put a property under contract with a new investor and when we send them the wiring instructions for the EMD to be held in HoltonWise's trust account, they get so excited they (unprompted) just go ahead and wire in the full $100k or so purchase price amount instead of the $1k or $2k EMD.

This also leads owners to ASSUME simpler is better when it comes to management contracts.

You need to have a heart to heart with them on your needs and plans. 

Taking a boiler plate contract is not going to be helpful as they're typically customized to people's needs/wants.