I do a bit of flipping, BRRRR, long term rentals, and wholesale.

If you want more insights in the STR Market make sure to get our newsletter to stay up to date: https://www.biggerpockets.com/podcasts/short-term-rental None of this matters.

In long run could have some negative consequencesalso Is it just residential or commercial as well?    

With that said, the income can still offset the cost of holding the property as a long-term investment.

We're now up to $1,900/mo and the current tenant wanted to sign a full year lease so it's a furnished long term rental for the moment.

They get the deed at the end of the term. 

Masthope had been rumored to be limiting STR, but it seems they are keeping their eye on the fallout after the big court win in Lake Ariel - https://www.timoneyknox.com/reversed-short-term-rental-regul...

In response to your questions:Biggest q i still dont really understand is:- what happens if i refinance before 7yr term or sellAs you'll be the owner, you can refi or sell before the 7 years. 

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Fellow Long Islander here.