Hybrid Use

[Ezio Auditore]

My wife and I like the idea of living in a downtown environment.  The appeal of walking to businesses, and having free permanent parking would be very advantageous for us.  We have been considering looking for a dual use property, to rent out the downstairs as commercial real estate for restaurants/shops/etc. and use the upstairs for a primary residence.  

Is this a good idea in general, or is it just asking for trouble?  Are there positive/negative tax consequences to having a primary residence that doubles as a commercial rental?  Anything specifically unique I should watch out for while pursuing this?  Thanks.