- Should I source a consultant or some sort of assistance to devise a business plan?

Of course, if you have low risk tolerance then this is the wrong business to be in anyways.... :-)

We purchased it for the purpose of rezoning to commercial and expand our existing business model (workspace rental for people in the creative field).

Although all of this is easy to conceptualize, many have trouble implementing it.

take it easy on me.I have 4 tenants paying well below fair market rent. 

So long as the home you own is not your primary place of business, you can rent it out for up to 14 days and not report that income on your individual tax return.

And based on my business, and from what I am seeing with market activity, it is still very much a sellers market for those type of properties so many investors don't seem concerned about these proposed regulations.  

To qualify as a real estate professional for tax purposes, you don’t have to own or work for real estate businesses or have a real estate license.

Between job transitions, grad school, money tied up in other business ventures, and the rising interest rates, my real estate investing pursuits were pushed to the side.

It is just a really cool neighborhood with easy access to the city.