It's been a number of years, so I don't remember how much but it felt like a lot in college.Lease: have one... month-to-month is my recommendation in case the living arrangements just aren't a mutual fit.

Check out PaylessPower for a short-term arrangement.

Plus, perhaps line up some other living arrangements for him.

The arrangement was after 30% of the work was complete, he would get payment for the next 30% and the final 40% payment was due on completion. 

My neighbor has plenty of land right next to me so my plan is to offer them about $2,000 for the land and also offer to pay the surveyor and re-arrange the chain link fence. 

If the amount of commission, or the current arrangement is giving you pause, just table the issue and get it behind you.Good luck!

Ideally we would get an attorney to draft up the specifics of our arrangement but things that we are unclear about include things like, who should take out the mortgage (both names v.s. the one who can get the better offer), what documentation is essential i.e. equality/partnership agreement.

Question #2 - Living Arrangement: I know that while I'm living in my current home, charging my roommate low rent and not renting my 3rd bedroom I'm not maximizing my ROI.

It doesn't matter what arrangement they had internally. 

I am looking to work/meet with local investor, real estate agent or anybody to provide me with guidance or form a mutually beneficial arrangement .