Goal is to use about 80k of my own cash, and combine that with a hard money lender.Thank you in advance to anyone who wants to network, help, or advise on how I can best make this happen.

This would be my first property purchase other than my own home, and though I had planned on getting started in real estate investing through maybe land flipping or buy and hold SFH, this seems like a good way to combine a desire for some shop space with potential for a little extra income.

@Chris Hughes, You guys are young and have the element of time on your side!

This is my first time dealing with a basement and it’s put me a little outside of my element.

Would it be acceptable to state in the policy that when a group of renters attempts to rent the house (i.e. college students, girlfriend, boyfriend, and a sister, or whatever) all possible combinations of 2 people must make enough money to equal 3 times the rent? 

Get a great stager who understands the NELA market completely and bring them in before demo if you don't know what I'm talking about with the design and historic elements.

Cash flowing your property with some combination of nightly/short term rentals on AirBnB or VRBO or an OTA can present some challenges.Practically, turning nightly rentals can be a challenge.

Yearly $11,184.2 employees earning $11/hour * 2000 hours/year = $44,000 combined yearly salary.$11,184 / $44,000 = 25%.Plenty left over for repairs, food, transportation, etc.

I'd do a combination. 

@Adam NobleOne must define whether they want an investment, a business, or a combination of both.Owning a residential property and renting to long term tenants is an investment.