As of current, there is no federal policy that requires a separate place of business for FFL holders. As I stated before many (read most) states and local governments have enacted additional constraints on firearms dealers. These laws and ordinances will be a matter of discussion between any prospective dealer and ATF.
It is true that once you are a dealer you must keep clear and concise records accounting for ALL firearms on premises. Some people remove personal firearms to a separate location. Some simply keep a personal firearms record book. In short, if ATF comes to visit; every firearm must be accounted for in either your personal record book or your dealer record book.
