If your following me you're seeing that the main level / basement unit doesn't have a defined bedroom at the moment.I'm Looking for some insight and thoughts on the pros and cons of residential vs commercial for this space. 

The question you have is your area defined the same or differently than all the other units areas are.

@david flores I'll definently be checking out that podcast!  

I've had so many Ah-ha moments over the last year it's hard to define one but possibly the biggest is just how powerful the note industry can be in general and the realization of the advantages that this industry has over rentals and land lording.

Contact your attorney and have him/her prepare something which clearly defines your expectations, where the money is going, how it is protected, your position in the entity holding the properties, any recourse should things go wrong, etc.  

We didn't have a clearly defined timeline with our GC.

The internal revenue code sections that determine passive/active income and define a business are different sections.

Before the back yard was shared space and neither unit had privacy The front part of the fence will also be removed to allow parking closer to the casita and to better define the two parking areas.

Before the back yard was shared space and neither unit had privacy The front part of the fence will also be removed to allow parking closer to the casita and to better define the two parking areas.

So, I think the work here starts with your side of the table and defining what needs to be true for you to accept a negotiated agreement.