The length of your post and your position is one of emotion...and rightfully so but no contractual basis for it...and this is common practice in the industry. 

Any best practices or guidance?

Simultaneously, find platforms to gather a list of investors to pitch this deal to.

Practice your pitch!

There are over 20 very competent real estate friendly CPAs here in Biggerpockets, whom are willing to take you on board this time of year.Best of luck.Fulton CPA's should not be practicing law and the original poster should not be going to a CPA for his concern.

Just hoping for a checklist or practical intel.  

I would say you can look for them both simultaneously.

I was around 11 and I remember going to the house after soccer practice and tearing out old carpet and linoleum flooring...fun times haha.

.: Best practice: don't wait five years to develop a plan.You should have a late fee policy and a termination/eviction policy.

I learned he's got 15 or so crews going simultaneously, fixing up mostly "C" properties in Indy--what appeared to be a serious flipping operation.