The question is coming as I am planning to set up a Corp and planning to start branding my product, which in this case happens to be a fully rehabbed house.Some google searches are defining Developers as the one who defines a big area or land into lots , runs the utilities and sewer system.

-----------------------------------------------------------------------------------------*Term is defined in agreement as no more than 12 months nor less than 12 months.And on top of the broker commission, the management company gets 8% per month for their services, which appears to be the norm in the Industry?

Cuts are definately coming soon.  

I'm faced with the argument within my business, which is a family business, of what defines 100%.

If you are seeing large equity gains, there is no way to time the market perfectly, but selling IS the exit strategy, and you should have a defined number or percentage (e.g. 25% market appreciation).  

A family is defined as "ONE OR MORE PERSONS RELATED BY BLOOD, ADOPTION OR MARRIAGE, OR NO MORE THAN (2) UNRELATED PERSONS LIVING AND COOKING TOGETHER AS A SINGLE HOUSEKEEPING UNIT."

I can't define that as I am unfamiliar with your market.

There are rooming house regulations that defines a rooming house if four unrelated adults reside under one roof.

To better define the way i am trying to go is in Multi-Family and or Apartments.

Give yourself a few months to become familiar with your local area and define then refine your strategy.