It has definitely helped me to get out of the "worker bee" mindset and start thinking about long-term strategy both in my job and outside. 

Im a full time worker How did you add value to the deal?

I am both co-sponsor andinvestor in several multifamily syndications.

That was here in Colorado.

@Ronan Donnelly had a lot of great detail in his response, but to drill in one level deeper – if you look at who is being hit hardest from the various shutdowns, it's lower-wage workers like restaurant employees, small retail, etc...

Have you considered creating a "maker space" or even coworking space on the first floor?

I guess I'm still used to Colorado's market."

If you can't qualify for conventional due to credit now, you'll want to either figure out a lender (likely local) that is fine with your credit, bringing on a co-borrower, or considering long-term hard money options.

When the end of September comes by, my work contract ends (My boss and coworkers are good friends) and we set off for the States to play hockey.

One of the issues with this is that since you have no equity in the property, and any fixes you do benefits your friend, and your friend can decide to sell at any time.If the numbers work out well, especially with being able to rent out the basement, you might be able to make the pitch for doing this, but with the condition that you co-own the property so that you can benefit from the upgrades along with gaining the experience you're looking for.