2) Whoever reaches out needs to provide the facility and time to record the song!
3) Both parties need to feel comfortable on the track, so picking a good track is key, it may not be ya homeboy who does all your beats, you may have to actually spend money on a track for once!
4) Handle your business, make sure all publishing and mechanical situations are discussed and paperwork is signed off top. Make sure it’s clear who owns what on the work.
5) If it’s your song, you are technically the main one who should have the promotional budget in place, but hopefully if its hot the other party involved will and should give it a push too, that’s kind of the point right?