JohnSkliros

I have spent the better part of several hours trawling Thaivisa as well as the Internet in general for an definitive answer to the direct question posed above and I've found threads on Thaivisa, as well as other sites, that claim

No you don't require a work permit.

And I have found some that claim

Yes you do.

I have also read the Foreign Employment Act and am unable to determine an answer.

I'm sure I can't be the only one seeking this information and I would appreciate all and any factual input.

To be explicit, here is the scenario:

A ferang, living here on a Retirement Visa, has a 30-year lease on a piece of land which is duly recorded against the chanote at the Land Office.
He has a Lease Agreement as well as an Agreement bestowing a Right of Superficies with the land owner (Lessor) which entitles him to erect and be the owner of structures on the land.
He is not married and his relationship with the owner of the land is purely that of Lessee/Lessor.
He builds a structure using his own money brought into the country.
He wishes to rent out the property (land and structure) and directly receive the rental income (the Agreements with the owner provide for such an eventuality).
He already has a customer so he doesn't need to advertise or otherwise tout for business and there isn't any agent involved.
His customer will be responsible for all the upkeep and maintenance of the property.
He will happily register for income tax purposes and pay all and any taxes as required.
He doesn't want to bend the rules or run foul of the law in Thailand.

Does he require a Work Permit?

If so, what are the chances of actually obtaining such a Work Permit?
(I understand that answers to this last question may be subjective)