I know people that do great with $150k homes but also $650k homes each with different strategies but I do believe in the Golden Rule, location x 3. 

As has been pointed out already, it's a different business model and do they even know to manage it? 

I've been an investor for 18 years but transitioned to commercial 8 years ago and the deal flow side of things is way different than 1-4 family residential.

There is a huge difference!

Diversifying into different markets, like Omaha or Austin, can help reduce any lender concerns and also spread your risk.Have you thought about the specfic market for your STR or MTR?

That’s solid advice—I can see how showing up in person makes all the difference.

Are loan docs attorney prepared or prepared in house...big difference on costs there.

Different lenders can serve different purposes. 

Be interesting to see the inner workings of the deal and how it was underwritten.The big question in life, not to be or not to be, not nature vs nurture, no, what is the difference between a HML and a PML? 

If you are talking about NYC investing, that's a different setup, not as streamlined as Westchester.