Now, for your particular case, I think @Stephen Renehan made a really good point with the HELOC approach instead because finding a good deal can take time.

Mixed-use buildings are pretty particular with city planning, are there other similar projects already existing on your street?

@Shiloh Lundahl  @Max Gradowitz  Hey guys you ABSOLUTELY in the state of Nevada need a license to lend money on either non owner or owner occ properties..  

This trade or business requirement can be particularly difficult for rental properties to meet and is usually based on the extent of the taxpayer's involvement in the rental activity.

If using a lender this is a non issue.

Yes, through my Mortgage Broker sources, consisting of Banks and Mortgage Lenders, are offering I/O payment options as well as Hard Money sources.The Stated Income ALT loan programs for Florida are offering the I/O payment options as well.And to those who turn their nose up at I/O loans, when is the last time you made an extra payment on your Non-tax deductible car loan?

I'm not sure on the specifics of the particular market you're looking at but I would never pay 100k for something only bringing in $700 n rent.

No FHA and any buyers would have to get a non-conforming loan with 25% down.

It’s always hard to see someone else go through a difficult situation, particularly if there’s not a straight forward way out.

By ensuring that each tenant member is capable of covering the lease by them selves, you are at less chance of risk of non-payment, should things go sideways.