The number doesn't matter, just find what lifestyle you would like to live and be happy with achieving that.Your 1mil is worth a lot more in Midwest than it is in Hawaii.

This added space will attract higher-paying tenants and enhance the overall value of the property.Add a Second Bathroom:To further enhance the rental appeal, consider adding a second bathroom to the basement area.

One thing you might consider, if it fits your lifestyle is some form of house hacking as your first home and investment here combined. 

Duplexes are often found in parts of a city (though not always) where there is more of transient lifestyle.  

We took an old senior living shuttle bus and converted it into a sweet #vanlife conversion which is a lifestyle that has been trending for a while now.

Relate your response to how it fits into your lifestyle and goals in the future.

Don't miss out on this chance to enjoy a worry-free lifestyle in a beautiful setting.

Not just to shop rates & fees, but also because each mortgage professional will explain things in different ways, and this will greatly enhance your understanding.If you want some experienced mortgage bankers to consult in the Long Island / New York City area (some of whom also do loans outside New York State), feel free to message me on this forum. 

A few of my recommendations based on what I have experienced over the last year or so of searching for our first buy and hold property.1) Choose a path that best fits your goals for the lifestyle you envision.

I like easier to manage and prefer LTR as it fits my life style and allows me to focus on growing my investments instead of working in my investments.