My own business currently leases one of the spaces. 

They had trouble renting a commercial space for me and we held money in escrow which was refunded to me to my satisfaction.

If you prefer a private space, you might also look for renting a meeting room at a hotel.

If you're going to rent you do not want to provide a habitable space that does not have the required egress.

.; remodeling an existing space; replacing or adding AC, flooring, insulation, roofing, etc. 

Oh yep, just land with little dwellings and work shop space. 

@Joseph Davini I'm more in the multifamily space than single-family space, we own and operate a few multifamily properties in Jacksonville but we do manage some single-family rentals as well, so I'll be speaking from that space.

Interesting times for us in the RE space..  

He has rejected larger offers and suggested I invest $5,000 for an 8-12% stake in the venture.They uses a cost-free retail space and a reliable, but paid event venue and has 100 attendees weekly.

Looking to pick the brain of an experienced investor in this space in NYC as have some questions and running into a brick wall with DHCR.