Certainly more areas with lower property taxes.

This option keeps the extra capacity while addressing the comfort issue.4.

For a single property, a strong umbrella insurance policy may offer sufficient protection at a lower cost.

A 4 bedroom would have you competing with larger condos or townhouses with pools, a much lower rate of return. 

Being a NYC resident (originally from Long Island), the price of entry in the area is on the higher end, so I've been considering some options in the NY Capitol region, as well as NJ and CT.

If you ever need financing options for expanding your portfolio, whether for rentals or value-add investments, I’d be happy to help.

Find a private lender who would give you that debt for a lower amount.

Then they lowered the price to $340,000, a step in the right direction, but not as big a step that I liked. 

I was planning to do cash-out, but there are several factors coming together that is making that a less attractive option (higher interest rate, longer seasoning).

Any advice appreciated.Most investors typically hit a road block at some point where conventional is no longer an option due to DTI, etc.