I have been thinking about STR's and buying more rentals in general but now with that kind of giant buying up condos/SFH/multi's what impact do you think this will have on the rental industry in general (and housing for that matter) and STR- hard for most investors/buyers to compete with something like a hotel chain behemoth when it comes to purchasing power and could drive prices crazy in desirable areas, not to mention the points and perks they can offer for staying on their properties?

There are ways to decrease tax impact if done correctly. 

If you are able to make your normal car payments on a monthly basis, I wouldn't be too concerned about paying it down unless it impacts your DTI to the point that you cannot get financing for investment properties. 

Paying off any types of loans won't impact the gain or tax you owe. 

I would say that from my perspective as not only an investor that owns properties but an owner of a property management company. the one thing that you need to realize is landlords are the highest sued in real estate as  a matter of fact 1 out of 3 landlords are in some form of lawsuit or litigation every year for violating laws such as (IRS, Discrimination, Fair Housing, Fair credit reporting act, property code ) all governing bodies that protect and regulate rights for both tenants and owners.As owner of a rental property you are running a business, and need to have policies, procedures and structure.

I also prefer my tenants and the neighbors to keep their body parts! 

And secondly, is there anyone here who had cashflow properties in the 2008-2009 recession that were greatly negatively impacted (like, was it harder to find renters or did you have to lower your rents, etc.?)

Account Closed, I don't think this is a good plan at all.Besides losing 20% of your income, there are a number of other disadvantages:You can't force appreciation with a 4-unit.You're at the mercy of the fickle and emotional residential market.Based on that market the property may be worth significantly less than as a 5-unit commercial, instantly losing you money and impacting your ability to get a new loan. 

Doing BRRRR doesn’t have its separate tax impact.

@Michael Peralta I would not advise you to invest your cash if one deal will impact you that much.