In between there is time for shenanigans by the owner or the owner's lawyer.

I’m a lawyer by trade and before that, an electrical engineer, so therefore have been trained to be risk averse and highly analytical based on numbers.For those wondering, my biggest disadvantages include suffering from “paralysis by analysis” and not really knowing if what I’m thinking of is in line with what’s realistic.

I'm a business lawyer, but I've also handled bankruptcy cases, consulted on some foreclosure defense cases and handled loan modifications for some of our clients.

I am not a lawyer, but I would say no.  

Do you, or your lawyer, have a draft or form contract written up?

Per my lawyer, this should be a slam dunk.Submetering - currently landlord pays for water, sewer and trash.

You should have an accountant and lawyer familiar with the regulations advising you. 

@Adam Johnson I'm one of those less is more people when it comes to lawyers, so I don't have one I use on a regular basis, but I think, for this, and since it's family, I want to do everything by the letter of the law in order to say I followed everything by the book and treated them as I would treat any other tenant (because that's what we agreed to!).

Accountant, Lawyer, Business Plan, Real Estate Agent, Project Manager, General Contractor, Joint Venture Agreement, Hard Money Lender but what we cant seem to get is investors.

They have fired that lawyer and have taken the above legal position.