A:
In reference to the "Cloud", the Note 10.1 should have access to Google Drive, which is the Cloud based storage system.
Although Microsoft Windows based programs like Office are not compatible with Android devices, the Note 10.1 will come preloaded with Polaris Office (which will allow you to author MS Office docs right on the Note 10.1).
Although many phones do offer WiFi hotspot features, you would need to contact Verizon for details on how to perform this with your cell phone (there may be associated fees or subscriptions through your carrier for the use of this feature).
-MrSamsung