sure thing.your developer/buyer/builder is going to need to pay out side consultants to prosecute the subdivision plat.. this may include among other things the following depending on jurisdiction:survey workengineering worksoil  testinggeo tech reports.city and state applicationsetc etc.. you want it in your contract that when this developer pays for these items.. that they are also your property.. in other words if he does not follow through he hands them over to you.. because these items are the property of who ever hired the consultant you have to specify in your contract that the buyer if they don't go through with the deal will hand this stuff over to you.this will help U resell if needed or prosecute the map your self without having to pay for these things all over again.

You can also transfer the grandfathering to the new owner.

Other than that what should I be asking them either of proof of ability to pay and/or verbal questions.For instance I'm thinking I should ask about their income but how much should I make sure they make or savings on hand? 

There are pros/cons for doing so.You transferred items that may be considered passive to active income.

For example, you can be fully hands off and less involved (meaning less ROI) and have an engineer/architect, interior designer, construction/project manager and general contractor do everything for you.

Sometimes you need to hold their hand throughout the transaction as most sellers are clueless about the process. 

Be fair to the kids when you hand out cookies, but this is a business and it needs to be treated like one.

I have been pre-approved for a loan and have the cash on-hand for down payments and any holding costs while finding tenants (I'll very likely work with a PM).My team right now is just me and my laptop, but I hope to start building a network on the ground in Memphis over the next few weeks (shoot over your recommendations in all categories!)

If I use the TREC contract, and then have the "assignee" sign the assignment contract (that has the assignment fee on it), then the buyer should hand me the check at that moment. 

A lot of the increases in market value and cash flow were earned through sweat equity and a lot of hands-on-work.