It wouldn't work forever, but it would be fine for the first few months.
If there's one thing I miss about college it's the 24-hour facilities. Even though there was always "home" it felt more entrepreneurial to work in a dedicated workspace, if a public one.
There is a 24hrs one open close to my place (laurel heights, sf), and now there is even free wifi, and they remodeled it.
Get a double shot machiatto, (1.99), and just hack. There is food, water, bathrooms right there.
After the remodeling, for some reason, I find myself being incredibly productive there.
The conference rooms do exist, sometimes, but it's probably hard to consistently get one several times a week. When you find you really need a conference, the rooms may all be full.