The way that things like this are typically handled is that if a lawsuit were to happen, since both people have been behaving under the assumption of a lease (the landlord renting their space and the tenant paying rent), they would probably treat it as if there was a standard month to month lease agreement.  

Converting the basement to a living space to make a duplex.

A cabin that in theory would have cash flowed positive almost $1K/month had the kitchen drain go through the crawl space and dump out about 4' away from the house.

My objective is to buy about an acre of land, that is already leveled, access is being done, and utilities are going to be 5 feet from the property; and then build 3-4 shell retail spots on my plot, owner occupy one of them with a business and lease out the others.I am meeting with a developer this weekend, but have some wrong numbers regarding the average cost of building a shell space. 

Maybe a really nice outdoor space with tv and fireplace?

It includes space to spell out specifically what the tenant is responsible for.

If they marked "corporation" (as opposed to LLC) - you don't need to send 1099s.

I too am newer to the BiggerPockets space.

I specialize in Multi-Family and Single Family Residential Development as well as Commercial and Flex Space.

It’s fantastic to have someone with your level of experience and passion joining the investment space.