I am seeing interest rates start in the mid 6% range for foreign nationals here in Florida.

My first mortgage was almost 11% and that was a good rate.

I already have 2 loans on the property with great interest rates that I'm not looking to replace.

Ask around but tbh most rates are going to be broadly similar 2.

Contractors, unless you have a working relationship with them, normally do not want you bouncing ideas off them.Understand what their hourly rate is, have a discussion with them that you are okay with paying them an hourly rate if they walk the property with you and provide you a scope of work along with an explanation of what you can/can't get away with in regards to improvements.ask them if you go with them, if they can credit you the amount that you paid.Once you develop a working relationship with a few contractors, you can bounce ideas off them and expect quality responses.I do not invest in New York.Best of luck. 

The only other option that comes to mind is to make the improvements and try to achieve favorable rental rates to push the story that 2 BR homes rent for a premium because its unique.

There are many STRs that do quite well in the suburbs of major cityies Off the top of my head, I can think of one of the STRs we manage that is 40 mins outside of Dallas and it has a great occupancy rate.

I have 7 MTR and my income is 1.7x my long-term rates ($1200 vs $2000), but that is very specific to my properties, my location, my business model, etc. 

The main reason I decided to sell rather than hold was the rising interest rates.

Mortgage rates and PMLs are 8-12% plus points right now so the deal has to be a low enough entry.