I seriously doubt that a tenant running a business on your property would not expose yourself to additional liability. 

Maybe someone better versed in this ordinance could say definitively one way or the other.https://www.chicago.gov/city/en/sites/additional-dwelling-un...

So my credit is ****ed from old credit cards, but I have the option to pull equity from my owner occupied 2 family to repair it....planning on putting on an addition to current house and converting the garage to a rental..

Over time, many of those reluctant landlords will become excited landlords and even buy additional rentals. 

In addition, the property must be acquired from an unrelated party to be eligible and used in active conduct of a trade or business per IRC Section 179(d)(1).

The return on cash would be a no-brainer.Problem:- The city (Oakland Zoning) wants my Phase 1 to be minimum of 5 units, which puts me over some thresholds where I need ADA in Phase 1, I'd need a unit on 1st floor, and hit with additional impact fees in phase 1.  

When comparing comps, pay attention to additional features like private pools, garages versus carports, ADUs, or any other standout features often overlooked by newer investors. 

Additionally, it's easy for a house on one lease to get absolutely trashed by the renter.

Quote from @Tim Cornwell: @Jay HinrichsI don't think HB1110 is the ultimate solution to all our housing problems, but it feels like it will allow for some additional housing and infill to occur where it wasn't allowed previously. agreed some housing but reality is quite different than what urban planning nirvana envisions.

I'm looking into getting a HELOC on our primary home in case I'll need to access some additional funds to finish. 840+ credit score.