Make sure on your rental agreement that people understand they are renting a room with shared access and responsibility for the common areas.

Is there certain criteria for portfolio loans and are they mostly acquired through local banks?

HELOC or Cash-Out Refinance would be the two most common ways to access that equity.

Once I get back stateside I will walk through my LLC with a professional to ensure everything is in order, but I was able to set my LLC, purchase my domain (if I ever want to make a website), acquire my EIN, open my business checking account (NFCU if you have an account or can get one) and get approved for a credit card and a CLOC to start building business credit for it...all from a distance. 

I have a sfh home with a detached garage at the rear of the property, the property is a corner lot with an alley behind the garage so there is access from both sides of garage.

Depends on access.....likely will need a tow behind concrete pump to get it in place.

I already have access to a venue.

When could get access to do that?'

The common area things they provide and their looks of the entryway provided will also help you know what to look for when purchasing.It's location is very important as well as its access. 

Acquiring property in Chicago area.