Residential to commercial flip

[Keefe Rice]

I have a lot of questions.  I have mostly flipped single family homes, but an opportunity came up to buy a residential home that could be converted to a business(Main Street). I have a buyer already if I convert it to their specifications.  They would lease with option to buy.  I typically follow the 70% rule when flipping but should I be doing something different in this situation?  Also how much of a commitment should I get from my buyers before I commit to buying this place?  Thanks for your help.  I feel ignorant, but excited about the prospect of moving into commercial.