Quote from @Nicholas L.: @Nate McCarthyhave you done a flip or BRRRR before, or would this be your very first?

There have been sweeping changes in L/T laws in NYS in the last 5 years. 

Even with a shared bathroom and living room, your place is likely much nicer than the average extend-stay motel, so if your rents are competitive, then you can likely serve this avatar.You may find that a 5/2 is an acceptable temporary housing solution for a family displaced after an insurable loss (fire, flood, etc.).

The other reason tax bills get stalled in Congress is that most bills combine multiple unrelated measures, usually serving various special interests.

This is a tough situation, but you’re gaining valuable experience that will serve you well in future deals.

Quote from @Nicholas L.: @Eric MillerI was going to say something similar to what @Greg Scott said, that generally you wouldn't have this as a choice. 

Bid to serve yourself, not serve your emotion.3) Develop your own thesis, stop asking others.

Understand the difference between the two, how they are compensated, and how they serve you during the due diligence process. 

With experience spanning nearly every aspect of real estate—except direct title work—I’ve had the opportunity to work closely with many talented vendors in the Indianapolis area.Today, I’m on the vendor side at Trojan Roofing Company, where I continue to serve the local community.

Also a good pm company will provide a P&L every month.