My husband and I don't drink alcohol, my concern would be having a crowd or excessive alcohol consumption in a space where I like to go for peace, calm and privacy (it's like a mini getaway).The market: A residential lease comparable to my property could go for $750 unfurnished, off street parking, no laundry on site, no wifi, water included, tenant paying electric and gas. 

Sounds like there is a question of if the foundation was designed for that area, or did the owners have proper maintenance, such as water around the foundation at dry times. 

Any excess land?  

Than you get burned, someone sucks you dry, runs you around for considerable time removing your access and time with other clients, to leave you with less than what they give a waiter for 10 minutes of carrying food to there table..... yeah, think about that one for a moment. 

TL;DR. i am a first time buyer trying to get a mixed use building in Chicago....

If looking to flip then get I'd find an excellent agent, lots you can find here on BP and have them give you the CMA for with dry wall and without and see if the cost justifies it.  

Why not purchase an inexpensive car and then have not only a place for your signs and equipment but a dry means of transport.

Hey everyone, I am just getting started in real estate investing and between going to school full-time and working full time, I don't have much excess time on my hands to find deals.

This was news to me, because my neighbor in NY who has  rental property here in NY said that he keeps it in his name and has umbrella to cover excess liability.I would appreciate any insight into how people handle rental properties when they are in their name.Best regards,Inessa

All 4 members also have liquid net worth in excess of the value of the land but I am not sure if banks care about net worth?