Great points all around. Establishing a relationship with a lawyer in the beginning is a best practice because it sets up deal from the start with the right mindset. Also as you progress in the deal, the earlier you involve your lawyer, it can potentially reduce the burden/costs for the legal work to closing. Just make sure it's a lawyer with M&A experience.

After you have seen enough LOIs you should be able to navigate w/o legal advice. But you need to be smart about the business terms or you risk jeopardizing the transaction if you later need to "retrade".