All in all, call a good Loan Officer, preferably one local or one here on this forum to have a conversation and plan/strategize forward. 

I just phoned the assessor's office and was provided the split.

I know there is a hospital, community college, the Chobani yogurt exec offices along with other stores. 

In my town right now you would just need to go back to the office you got the permit from which would be code enforcement and fill out a new permit and maybe pay another fee or they might apply the first fee.

So, after consulting with my loan officer it looks like I’d be paying about $1,500 for the mortgage (taxes and insurance included) but my total potential rent would only be around $ 1,700 if both sides are occupied.

Buy close to working markets here and CT and close for you to be convenient if you need to commute into the office for work.

Hello, I am currently looking at a Commercial Office Building in South Bend Indiana.

With the fixed rate the cash flow is very low after all expenses but I don't care much about that. 5/1 loan officer opinion - You will refi in 5 years and pull out more cash so not worth paying extra every month for principal30 year fixed rate offer opinion - when the rates are low it's not worth doing the 5/1, rather lock in a rate and doesn't believe in paying so much in points.I would appreciate any comments and advice from the more experienced.Thank you!

You'll most likely need to pull a plat of the land from your county office.

However, the 203K loan is a specialized loan that will beat you up and spit you out if not done by a loan officer that only does those loans.