I kind of like the shares idea, HOWEVER the possibility of 699 other partners quite frankly scares the heck out of me...Been there done that with partnerships. Heck I used to be a partner is a Comp car, it was only 4 guys and it ended pretty ugly...

However I would not be opposed to buying a place like this and issuing shares to others, while maintaining a majority share. Of course I am not sure it can be made profitable for any of the share holders. One of the largest issues right now is MONEY is extremely tight right now, especially for business ventures.