@Joe Facenda The Federation of Exchange Accommodators (FEA) was formed in 1989.

As long as you have a legitimate reason they are pretty accommodating with making exceptions.

This is to acCommodate roommate situations where each pays a portion.

I know very little about Fargo, ND and as to whether there are attractions there where people need sleeping accommodations. 

You'll then need to have your architect accommodate those requirements.

We have made design changes to accommodate for the 3rd bathroom.

Obviously they must have a good pitch to the Seller such as "I do this full time - it is how I make my living", "I have a substantial list of investors who can pay cash",  "this structure avoids realtor fees and the many showings you will have to accommodate if you list your property on the MLS", "this allows you to sell without making repairs".Most experienced wholesalers put in the additional provisions section of the contract "Buyer intends to resale this property for a profit". 

There would need to be repairs made to the interior such as:DrywallCeilingRemoval of a shower (see below)FloorsThere are also some permitting issues that would need to be corrected such as:Ramp to comply with ADA guidelines2 handicap parking spaces to comply with ADA guidelines1 of the handicap parking spaces needs to accommodate a handicap vanA landing would need to be built at the back door, currently there are only concrete stairs leading up to itRemoval of the shower (it was not permitted)Finally, I will need to pave part of the parking lot to comply with the handicap parking; right now the parking lot is mostly gravel though there is some (very little) pavement.I was surprised to find that it is in an AE flood zone, but luckily the BFE is 11 and the current elevation is 12.

Some things to be aware of:General Excise Tax (GET)Transient accommodation Tax (TAT)Nonconforming Use CertificatesThe management fee will vary depending on the type and location of the property.I can discuss further if you'd like and bounce some ideas/options around.  

You need to discuss this with a lender that can accommodate the lower values.