Own a home which contains both rental units and home studio

[Thomas F. Byrne]

I'm purchasing a home and plan to rent out two of the rooms. In addition, I use a room for my self-employed, exclusive place of doing business, which will then include the responsibilities of the rental property. Relating to taxes, how is this considered? I'll be on-site, involved in the continuous maintenance, management, advertising for tenants, etc. so in that light it's a business (with all tax deductions that implies), AND I use a room in order to run that business (with all the deduction that THAT implies)?