I haven't read all the details of this legislation yet to see if something like that is included but I wouldn't be surprised if they moved in that direction.

When I spoke to the NY DOS, they said I just have to setup an additional brokers license and pay the 185.00 fee. 

I obviously can't speak to all the details as I'm not an LO but from what I understand (from their flyer) it's a conventional product, Park National keeps the paper and services the loan, it has no PMI, Is a 100% financed product, and comes with $15K to use for closing cost, rate buy down, or principal buy down depending on your situation.There is a new top dog in the loan products for house hacking in my opinion, and the best part of it is that its local money, staying local and helping local people.    

Due to this, DSCR loans are one of the best options currently for having a property positively cashflow as they don't include other additional expenses in underwriting. 

MF's always forgetting about the details.

Additionally, limited experience can also result in lower leverage, higher rates, lower LTV and ARV caps, and fewer options and features that are not available to investors with less experience. 3.

Also, specific advice depends on me providing more details.

Are there state laws in addition to IRS rules in RE investments that makes it better to choose local?  

The issue with hotels which is different from other CRE asset classes like Office, Multi-family, etc, is additional supply can instantly affect your bottom line.  

Be certain to have a tax advisor involved in making sure that happens correctly, the tax savings and freedom of timeline will be worth the fee.Let's assume you come out with an additional $350k after negotiation and fees involved in selling the home that needs to be used in the 1031.