Hi Mark, thanks for bringing this post back to life!

Luckily we had reserves and outside cash flow we could bring to the project. 

We have several investors who want in at a 50-50 split with them bringing the down payment of 20-25% and us doing ALL of the finding, aquisition, rehab management, placing tenants, and ongoing business management and PM. 

I would like to have read a few from any state before arriving at our attorneys office, so I can bring to question some of my concerns.  

Its actually less expensive than a warranty plan, but they will not pay to replace your HVAC unit once it dies and there are no available parts to bring it back to life.

Not sure if I know a caselaw directly on point but conceptually I could see @Jared Forman still having an enforceable contract and being allowed to bring an action for specific performance if it comes to it.

Simple search should bring it up.

Euclid is interesting as there is an Amazon distribution center opening in 2019 which will bring over 1000 jobs to the area. 

It’s your first deal so maybe you won’t be motivated to do this but having the seller bring equity in form of the land, a developer/investor interested in the area and carries the construction financing, you really only bring them together (whatever that is worth to an investor) or some sort of partnership with the seller that outlines duties and recompense.

You might think that you are investing in people rather than only a property but it is people after all that bring the money to the table we are all trying to capture.