In addition, even though you would have no financing in your model you can mitigate the risk with proper cash reserves and grow 4 times as fast. 

You may want to confirm this with your local housing authority.

@Charles Williams thanks for confirming this information.

If I consider cap ex and repair reserves, I'm pretty much breaking even every month (and arguably losing a little depending on how much one thinks should be budgeted for repairs/vacancy). 

Minimum down payment is 3.5%- Conv has some low down payment options as well, and with good credit it may be a better option than FHA- Specifically a 5% down HomePossible is a great Conv for Multifamily 2-4 unit primary residences (3% down for single family)- You mention having no cash, you definitely will need some cash for down payment, closing costs, and personally for reserves.

I would call the city of NLV to confirm.

Hi All,I am doing my own condo document + reserve fund review as I want to build this skillset.

The Property is basically break even cash flow after PITI, reserves, etc.

i.e. cafe, lounge area, art gallery space, co-working creative space.I would first like to:1) Build up a larger client base for my brand online and see the the need for a brick and mortar location2) Evaluate the trend of brick and mortar retail / coworking space going forward3) Store up enough cash reserve to accommodate the increase operating expense tied with a commercial retail lease4) Gain commercial residential experience which in my opinion has less risk of vacancy. 

I agree with your comments but i would like to verify/confirm/support my thoughts with actual data>