I have completed one deal (buy and hold turned into a fix and flip) and I am in the middle of my second deal (house hack turning into buy and hold). 

I'd configure it as a 1 bedroom with an open floor plan to allow for a spacious-feeling office area.My wife and I are considering buying into a situation like that in upstate New York or Connecticut- we like the idea of an accessory dwelling unit where we could go to conduct business(she's in interior design, I'm in real estate primarily.)

I completed a live in flip in highlandtown and love this area and have watched prices continue to escalate while still finding some deals. 

They are two completely different activities. 

@Theodore Arzt Did you complete a full credit, criminal, eviction check on the applicant?

If you pay once a week, do you pay in advance for cleaning services expected to occur based on your calendar at that time OR in the rears for those actually completed in the past week?

I am also completely new to the process of purchasing a home, and I’m not quite sure what my first steps should be.

Home is completed remodeled inside. 

Depending on your market a flip at that price point may not sell unless it is completely decked out and modernized.

@Lauren FeltzYour loan type has nothing to do with your taxes, they are completely exclusive.