Search Contract-For-Deed on BP, you'll see the issues, I'd  suggest you look up Subject-To as well, a better choice.It also helps if we define the type of "commercial" property we are talking about, multi-family is much different than office-warehouse or retail or industrial and each has unique requirements where having title may be more crucial in operations, such as regulatory compliance, zoning issues, construction matters and financing. :) 

Here's a pic of one of my rehabs that had a yellow (ish) body.

I believe there is merit to paying off all our credit cards and getting a nicer vehicle and honestly I don't see anything wrong with her body but she has put up with all of my **** for the last 10 years so at this point if it makes her happy thats fine.

Nor the smell of the incinerated thousands of bodies (RIP) that lingered for weeks upon weeks around pretty much all the 5 boros & NJ.

What different outcomes might result from various regulatory decisions?

Does the seller really mean no business <full stop> or did he envision someone running a moderate traffic business (i.e. hair salon, tailor) or home-based auto-body shop in his front yard?   

Strategize with your attorney to ask for a compensatory discount, at the appropriate time, to prevent you from filing a lawsuit seeking damages from a jury trial (and perhaps reporting this to the FTC and other regulatory lending authorities). 

I will point out that on a small build it may not be worth that money because the "test" they do is not a soil sample or boring of the land, it is a research into the property to determine if a laundry facility or auto body shop or some contaminate / polluting type of business or entity was once on that lot a long time ago.

Is the mere use of GIUC in forums, blogs, or wherever sufficient cause for any level of scrutiny from big broth....I mean the Justice Dept. or regulatory agencies ?

That election as to the type of business you are can change by default when more than half of the income is derived from another or when you spend a significant amount of time in another business classification.A regulatory agency may look to the IRS Code as a basis to determine if activities are accomplished as a business venture, but they are not required to as they may base their opinion on many other aspects, such as the population activity, are you dealing with three people or 30 or 300?