It's a cute little home. Having worked both for the city housing department, of course all I see are issues, but if you can make it work I think it's always wonderful to do what you love. Do keep in mind that those chair things are VERY slow & if you have more than one lady who struggles with the stairs, that would take quite some time to get one up, send the chair back down & send the next up. We looked into one for my grandmother's old house &, in addition to the cost, found it took about 5 minutes to get up the stairs. Very frustrating to a disabled person. In addition to that, I only saw the one full bath that had a tub. Hopefully the other one has a shower both for accessibility & sanitation (ick! I cannot imagine taking a bath in the same tub right after my new quilting friend did unless I had ready access to sanitizer or a maid came to clean it. But maybe that's just me.)
Just make sure to have your realtor check with the city about zoning to ensure you can run a business from there & definitely spend the money on a good, reputable, licensed home inspector who understands how you intend to use the space. Turn-of-the-century buildings are truly beautiful, but they also come with a whole host of problems hidden behind the walls (knob & tube electrical, illegally run pipes, asbestos insulation, inadequate structural support & damage from water or pests that only received a cosmetic fix ... just to name a few). A good home inspector can find some of those issues for you, but others won't be uncovered until you do rehab or it gets bad enough to see damage on the walls/ceiling so it's extra important to have an emergency fund.
Also, make sure to take into account that taxes go up quite a bit when it's used as an income property. Again, though, please don't take any of this as discouragement. Just a desire to help a fellow quilter learn from others' mistakes in the hopes that you have more time to enjoy your new business.
