Commercial properties owned in an HOA tend to have issues with financing. 

Quote from @Marie Paul: Quote from @Adam Michael Andrews: Working is how society accesses our individual talents and abilities.

Navigating NYC's zoning regulations can be complex @Jon Pflueger, especially in M1-2 districts, which are primarily designated for light manufacturing and commercial uses.

You get the best of everything- cheap, tax free access to your equity, you get to keep your interest rate and you get the cash flow. 

If you are trying to maximize space you may want to consider convertible sofas and/or one that has a pull out option.As far as material my preference would be a darker neutral color microfiber that would be easier to clean.Possibly most important is looking for one that is commercial grade for durability.

IMO, only worth it if you have access to enough capital to scale your efforts, though.Can't be compared.To do well in the lending game, in addition to controlling your risk and what others have mentioned, you need... 

If you plan to scale ask your largest commercial RE broker for some recommendations.  

@Jay Hinrichs wouldn't eliminating Brokers decrease competition, and access to competitive offerings? 

It sounds like you’re in a solid position with your skills, VA loan access, and local handyman expertise.

Maybe they own the house behind it and want to put up a garage or driveway access to their backyard.