If you're starting on this investing journey, you should think of these relationships as an investment as well.Best of luck!

The previous owner wanted to sell to a multi-generational ranching family and we had created a good relationship with him over the last 12 years stewarding over his land.

The previous owner wanted to sell to a multi-generational ranching family and we had created a good relationship with him over the last 12 years stewarding over his land.

I'd come up with a good list of questions you have and just ask, because this isn't likely to be an ongoing business relationship unless you bird dog, the flipper may just talk with you no strings attached.

Also if you find a good accountant you can leverage their already established relationships with lenders, potential investors and more. 

I've done it but only when i'm trying to squeeze more money out of a third party while at the same time, being comfortable with it coming back to me as REO (That usually implies there is a senior lien/junior lien relationship of some sort).Some of it is art, some science, some smoke and mirror but its all in the effort to "true up" what you realistically expect to take as a loss when its all said and done, if you end up taking a loss.

Brokers appreciate and value the feedback and it also allows you to build a strong relationship with them.  

I need to make clear that I am not providing legal advice, nor establishing an attorney/client relationship with you.

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. 

I'd recommend establishing a relationship with a seasoned Investor/Property Manager.