It is properly called ordinary business income and is taxed at the same rate as your W2 income, PLUS 15% self-employment tax which is Social Security + Medicare.

Ensure the property is properly zoned for your business, and consider leasing the other suites to offset costs.

Get a good General Contractor, write a proper contract with proper payment milestone schedule.If you don't think you can come up with the money to finish it get out from under it and talk to your HML ASAP like @Jay Hinrichs mentioned.Happy to connect and talk through the situation more if that would help!

I'm curious about the proper legal structure and business types one should use to minimize personal liability as well as remain fairly anonymous to the general public.

When I looked at Proper Insurance (their rates were extremely high), by eliminating the wind coverage they said I would not get loss of income if it was related to wind.  

Self-management is a good thing, as long as you have the skill set and knowledge to do it properly.

That person will most likely need the assistance of the attorney who formed the trust for you, to be able to accomplish the things that need to be accomplished- legally- so that they have the proper legal effect after your passing.

In any case, it needs to be properly documented. 

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

So the ONLY GC's you will ever get to make this work with, are the GC's who are too small, too new, too green, too novice, to have earned the PROPER logistical system and account's to have obtained Manufacturer/Supplier direct pricing.