But if you’re going into a 7% loan with little cashflow or appreciation potential I would look for a different buy box. 

About getting out of the Rat Race.My family and I played it a few times, and what can be said in its favor is that there are a lot of opportunities to buy rental properties under different cash flow conditions.

To @Dmitriy Fomichenko and everyone please disregard/ignore what I wrote above;  I was tired and got two different things confused.  

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

I moved here from Florida after doing a ton of research on different real estate markets. 

You might find that installing a mini-split system, properly insulating, and ensuring the finishes match the main home’s quality will make a difference in how the appraiser views it.

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?

They may require a foundation (footings) of some sort, a different home set up, among other things.

They are good for comparison of different assets and limited in telling you when, where, or how to invest.

Every investor  has a different risk tolerance, comes from a different financial situation and has different financial goals.