It will be worthless in this scenario unless it kicked out your 4 month refi assumption to let you know conventional refis at appraised value need to season 6--12 months minimum. 

You cant afford to cancel a week booking in Peak season because the AC is out and you can't find someone to work on it in a reasonable time frame.  

Key differences I see: Much higher rentMarginally higher fixed expenses around $525Marginally higher variable expenses around 725 - as it is an older house, as are all in westchester, frequently more things break, keep a larger repair budget available.If you are living in a unit then you would be on the hook for about 2545 (2345 + 200 missing cashflow). 

When we bought the house we know one of our kids bedrooms was kind of small, but we figured we would take out a loan later when he was a little older to build a small room addition.  

I may not know as much as you or a seasoned developer but I do pay attention.

Swissvale's is probably significantly older.

Two or our good good friends live there and do most of the maintenance and day to day management for her since she has gotten older and has moved off site to live with her daughter.

This is almost impossible for regular notes, excepting some types of non-performing paper, which has its own issues.I feel that, currently and continuing until things become predictable, that the safest way to do notes is to buy a property at fire sale pricing, raise the price to market or 10% above and create a seller financed note, which, after some seasoning, can currently be sold at a small discount. 

Most of the 2-4 units in the area are older homes (think 1960 or older), however they provide great opportunities in terms of getting a 3% 30 year loan on a property that can be an investment after you move out after one year

Or- go for it, while it's cold season and you can leverage the lower demand.