How to do due diligence on a new construction partnership?

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Hi Bigger Pockets,

I've been presented with a deal to put some equity in on a new construction duplex in an up and coming market with a partner who will be a general contractor building the project. We plan to split profits accordingly at the sale of the property.

I haven't dived into a new construction deal yet and am excited to possibly be a part of one! However, I'd like to ask, what are the main factors I must check off the list first before seriously considering? Can you folks throw me some advice or maybe a checklist to guide me through? Thanks!