There is separate entrances between the residential and the commercial space. 

REgardless, others should not be blocking the entrance to parking spots. 

I could create a side entrance off alley but will cost more money. airBnb is an option but prefer not to.

Like, I'd like to build 5 200sqft studios all with private entrances, full bathrooms, and kitchenettes. 

Start at the front entrance.

It is about 20,000 sq ft with a parking lot and about 1.8 acres, all open inside with 4 bathrooms, 4 entrances, it's an old bowling alley (none of that remains, lanes, etc.)

Entrance and exit costs should really be considered if you are doing anything other than wholesaling.

Home is a SFH currently with two families (one upstairs and one down) using separate entrances and kitchenettes.

Probably 25% of the houses I view have a kitchen and separate entrance to the basement.

The company who currently owns it started the process by re-doing the front staircase (approx. 20ft wide concrete entrance- looks spectacular), installing a new roof, and purchasing all new windows and installing maybe 10 of them.