As I have mentioned in a few posts, we are renting an apartment as a trial for a second home. It is 2 bed and 2 bath for the 2 of us. At my age I refuse to not be able to use a bathroom whenever I need to (answering the 1 vs 2 bath question.)
I am using the second bedroom as my office (I work part time from home). It has a small bed for my daughter when she visits. She came for Christmas and I vacated it to give her a private space. It worked out well.
It does have an open plan for living, dining, and kitchen areas. We did put in a big tv over the fireplace. We are not big TV people, my husband watches stuff mostly on his computer, so this has worked out well. I spend a lot of my time in the second bedroom and my husband spends most of his time in the living room area.
This matches how we live in our big house. Me mostly in my office (which there is the third bedroom) and him in our family room. Although, in that house we have both a living room and a family room.