Also, I cannot list property as a 3 beds home, but i guess I can say that it has an extra space that can be used as a spare room.

It’s rentable space.

Not sure if this has been asked before, but I have a question about accessing equity.

you can do one of several things. you can include electric in the rent (not always a good option) , you can stipulate, in the lease, that the electric bill is split 50-50, you can implement RUBS which divides the bill into the percentage of space it takes up (for example one side is bigger so they pay 60% of the electric, or the 2 bedroom pays 66% and the 1 bedroom pays 33%), or you can submeter the electric which allows you to split the bill you receive according to the actual electric used, finally you can discuss with your electric company what needs to be done to add a separate meter to the duplex. submeter and second meter are most expensive options, but in my opinion are the best for your long term sanity and profit.

I have a client that is interested in renting out a commercial space for 3 years for $30,600.

The allure comes from very generous common spaces, lounge areas, outdoor space, pool areas, gyms and - I have even seen an indoor golf simulator.

@James Maness, If the properties held in your IRA produce enough income for you to live on - you could access your retirement funds prior to normal retirement age without penalties.

Your realtor may have access to the same or similar tool. 

I’m only a fledgling investor with a single duplex now but I definitely want to go bigger into the commercial space.  

It does not give you access to the 1st lien.