Tell me why a room-and-board-and-bandwidth incubator is a stupid idea
l3db3tt3r: There are some great points, argument and counter-arguments. I would like to move forward with the "campus" style analogy.I think you could side step a lot of the problems, i.e. house squatting, housing discrimination, screening of less then ideal individuals... 
if you made it into a vocational school, or certification style program.Granted, your biggest hurdle is making those diplomas and certifications carry weight for the prospective entrepreneurs. On the same token, the prospective entrepreneurs would want there efforts to mean something, meaning they would work towards proving the reward.In this process people are applying for the educational benefit. As the process moves on, education is about empowering the individual. This is generally where entrepreneurship takes flight, or at least leaves the nest in an attempt...As a founding principle I would take your love for those old brick buildings, and run with it in the application process, as well as a lead into the educational process. The focus being on rebuilding, sustainability, and creating future generations in the program, of witch I'm assuming your goal is to make a Y Combinator style "campus".There is something to be said about building an empire from the ruins of the past.