As also mentioned above, subdividing is a vastly better route if possible, but proceed with great caution, since subdividing can be a gigantic pain in the rear end.Good luck with it!

For the vast majority of the Bigger Pockets community the EIDL loan/grant will be the best if not only option coming from SBA in my opinion.  

It costs more than that to setup an LLC in the vast majority of states + you have to deal with the complications getting a mortgage (often at a higher interest rate). 

The people responding have little to no credit, or are vastly under qualified with the income requirements.

Michigan avenue runs for miles & there's a vast difference in rent from one district to the next.

The vast majority will still pay rent.

We could hold a lottery of 3rd grade classrooms, to present there best proposal, and the winner get's to run the U.S. for a year, and we'd all enjoy the VAST improvement of things. 

Meanwhile rentals are one of the biggest tax shelters ever created and you will likely never pay income taxes on the vast majority of your wealth. 

FIFTHWhile ownership of Real Estate as an asset has associated cost's of maintenance, the vast majority of vehicles utilized for stock investing does as well.

As such, it’s far more advantageous to receive tax free cash flow in a Roth IRA or Roth Solo401k than tax advantaged cash flow in a taxable ownership situation.Second, the ability to compound cash flow tax free inside a Roth IRA or Solo401k Roth IRA vastly beats taxable investments over time.