Having said that, my assessment on downtown multifamily is purely my perception and has no basis in data right now.Aaron

The relaxed casual aspect is perfect For pure networking! 

Further adjustments for actual differences like an extra bath or garage would be market specific and would be in addition to pure sqft comps.

You cannot use it for a pure investment. 

Yes, as stated I know there are better locations if I'm purely looking at growth right now, but there is a personal side to this purchase.

@Jon Jones,  I would look at the commercial building as if you were buying it from a pure investment side.

I am, and have always been a value add investor, and I believe that trading up properties will make you a lot wealthier over the years than a pure "buy and hold" strategy would. 

Some thoughts that are still in mind:Should I consider pure investment properties vs trying out house-hacking?

house hack vs pure investment?

You might be able to improve that rate a tad bit using one of the newer residential mortgage programs that base it purely on the property's own cashflow (some of them will go as low as 1.1 DSCR whereas pure commercial wants 1.25), but the improvement wouldn't be sufficient so as to be worth the hassle/fees/costs/etc, knowing that you're just going to be doing it again in a year or two when you have sufficient 1099 longevity to get a Fannie loan.