Should I buy a house that is a little expensive if I know smart

[James Robert]

Hey guys - 

So I just sold my first house and I am going to take home about 73k on it. There is a house in a nearby area which is HIGHLY desired and the floor plan is just not the best right now. It has a jack and jill bathroom where the bathroom connects. The only other bathroom is in next to the living room. I could block off one of the jack and jills. Make that a master bathroom and give the other bedroom its own door. This would not cost much to do and would make the house way more desirable. at around 290k and the 6% rate my monthly payment would be around 2500. That seems scary to me. Its a 3 bed 2 bath 1150 square feet. However, is it good to buy if I know I can change that floor plan a bit and sell it in a year or two for 360 or so. Is the short term high payment worth it? Or should I not do it incase the market tanks and I get stuck with the 2.5k monthly payments for years. I must also mention I am a realtor and this 2.5k is with a 5% down loan and I will be taking a full 3% commission. Therefore only paying 2% and closing to acquire this property. Thoughts??

Thanks!