Great partnerships are built on open and transparent terms of engagement that are beneficial to both sides.

I guess transparency with the lender is the best approach, like you said.

The numbers need to make sense and meet all your requirements, but the folks you choose to build that relationship with need to be transparent and stable (ie they won't be closing shop in the next 10-15 years).

That provides more transparency and a better paper trail - Better to avoid questions than to have to answer them.Look to the tax returns and you won’t go wrong! 

I am well aware that it is more profitable to do fixed pricing vs cost plus; but I also know there are honest and transparent GCs out there that wouldn't do what you described. 

Robert, Is Patch of Land going to match it's competitors in transparency and post it's complete record of uncured defaults?

And if they get mad you have a couple options:- be upfront and transparent about your business (I’ve heard this a lot on the podcasts.

Hope my question was transparent.

I recommend contacting @Brad Schaeppi , he is good, he honest about what he can do for you and he is transparent about when you are on the clock for fees. 

I always say everything has to be transparent and documented.