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That's definitely an interesting idea. I've thought about doing something very similar in some of the denser neighborhoods around my area. However, there's one big hurdle I haven't fully investigated yet.

If I am effectively an ISP for my neighbors, am I subject to the same rules & regulations as the big ISPs? I haven't fully researched the issue, but if there are lots of regulations about logging usage and other things it may drive this out of the reach of small people looking to do something like this part-time and not as a full-time business.