Regarding a HELOC, yes, it would require minimum monthly payments once you draw down on it.

It sounds like you are more interested in keeping the corporate client then sticking with your lease...so draw up some addendum of X dollars per dog and done.

All proceeds would go back to the IRA and it would not be "your business" that you could draw income from or be directly involved in.  

The sooner you distance yourself the better, and if your name is not on the papers it will be pretty difficult to pin anything that may or may not crop up in the future. 

In any case, make sure you draw up a water-tight partnership agreement that details exactly what the contributions/ responsibilities and rights/benefits of each partner are (i.e. don't assume that you are on the same page and that this or that is understood) and that provides for exit strategies from the partnership if it doesn't work out or if one partner just wants out.

I have architectural drawings obtained by the current seller as well as a zoning determination letter saying there are no zoning violations at the property and it is considered in compliance with the Zoning Ordinance and the described uses are "permitted by right uses".  

First you hire an engineer to draw up some plans, then the county approves you for less units than the engineer planned for, then the city approves you for less units than the county approved you for, and then you can hire a contractor and start building.Meanwhile during that entire process, your attending meetings at the city/county where all your neighbors come to complain for various reasons why they don't want you to build there, further dragging out the process.

LOL.. so it can be luck of the draw sometimes... once we get this going it will be super profitable.. and I suppose the seller made a profit even after 10 years.. they may have paid next to nothing for the tax's on a bare lot in what was the HOOD  10 years ago.. and what is now some of the hottest real estate in the country.

Turns out an offer went in on this property, so we're back to the drawing board. 

I would go to a local REIA because your local investors will be able to key you in on the GCs they are using which will help narrow your search greatly.A contractor, depending on the job, will want to most likely be paid in "draws".