Check with the city or county planning and zoning department to get an idea if your concept will work, if you can build what you would like to build and what is required for all approvals including site plan, building permits, proffers, water/sewer tap fees, bonding requirements, inspections, setbacks, lot coverages, parking requirements, height restrictions, C/O process and time frame for all approvals.You also need to check with the utility companies and get an idea of availability and cost estimates from them for water, sewer, power, gas, cable, installation and connection requirements, tap fees, hookup charges, transformer location and relocation, power line and power pole relocation issues.

We're looking comprehensively at our risk management, and more specifically about job site security. 

Merrit,I agree that you want your independent contractors to have Liability but it is also important for them to have Workers Compensation coverage.  

It's $80 on the year for $5k of coverage but if it's not something people deal with, I am not sure I want to elect for the coverage.Thanks!

They require FICO above 680, debt coverage of 1.2 or greater and a warm bodied guarantor.

Therefore, I'm leaning towards the 101-2017, which is more comprehensive, but might be a big overkill and I would need to input more information. 

Should I leave them in personal name and put a umbrella coverage on them ?

Should I leave them in personal name and put a umbrella coverage on them ?

So before accommodating new tenants, we are planning to take tenant's insurance coverage.

@Maksym Chernov just get a standard commercial fire/liability insurance policy with $1M coverage (this is likely what the insurance company will require).