Advice on mixed-use space
My wife and I are contemplating a property that is zoned mixed-use. It has a large house (about 5,000 square feet) with an attached commercial storefront (about 900 square feet). The back of the house has an attached unit that could be renovated and used for a one bedroom long-term rental or a 4 person short-term rental. Our thinking is that we might buy the property as our primary residence and renovate the back apartment and finish out the commercial space for a modified version of house hacking. However, we are not sure this is a good move. Also, we are not entirely sure how commercial spaces would work. If we attracted a business to that space would they pay to finish the space or would we, or is that all negotiable?
Any thoughts?