Since he is footing the bill, he has all the risk in the project.

We rehabbed the 1200 sq foot space above the three car detached garage into a 2/2 and are doing STR there.

Keep copies of all drivers' licenses and license plates for everyone who steps foot on the job site.Get a signed release of lien prior to each draw, or affidavit from the GC that all liens are removed and all subs have been paid - prior to releasing funds. 

I have retail in the 12,000 square foot building too.

On a side note, I have been looking at North Canton in detail over the past several months and based off the average rent per square foot you can get in 44720, I dont see anything on the MLS where the numbers could even come close to working. 

I have a 40 X 100 foot lot its goes road to road so two street fronts. we MUST build 3 houses on it..

Again in the older homes in my area I'm talking about, you typically have full 8-foot or even 8.5-foot ceilings to work with, which greatly simplifies matters.HOWEVER,In a more modern place, you might have plywood subflooring that is as thin as 5/8 in.

Sq foot price is right in line with this prop at 66k. 

Restoring them to the architectual intent makes good sense.Financially speaking it goes against a basic principle in real estate - the pieces are worth more sold individually than the entire sum - in other words: buy by the acre, sell by the foot. 

@Jian Guan Take it from someone who has plenty of experience with this - legally converting the garages will be much more expensive than you expect (egress requirements, seismic, shear panels, footings, HVAC ... the list is long).