Getting Started: Airbnb vs Rental

[Chase Helm]

Howdy everyone!  This is my first post. I have been a member for awhile but just now taking the jump into real estate investing.

I am trying to avoid falling into analysis paralysis and just wanting to get started. I have a HELOC set up and am looking to use that money to do a BRRRR on a 1BR/2BR townhome close to where I live (I know I can probably find better deals further from home but am not comfortable going that far out with my first). When I run the numbers, I am either not able to pull enough back out with the refinance to pay back the HELOC or I have to leave more of my own money in the deal than I would like ($50k) in order to maintain a $100/$200 cash flow. Now, in order to just get the 1st deal off the ground, I am considering using the first property as Airbnb in order to pull more money out and get the returns I am looking to achieve. With it being Airbnb, I was considering buying a unit in a mid-rise condo building or the townhome. Does anyone have any recommendations on whether or not one is better than the other for Airbnb/rentals? (assuming similar neighborhoods).

Basic info on the Deal:

- Location: Dallas, TX

-Budget: $200k

-Purchase Price: $150k-$175k

-Rehab Budget ($10k-$15k)

-Average rents: $1400-$1500/month  ($1500 gets me right around break even)

Just looking for any recommendations and would love to hear about anyone's past experiences with a similar situation or Airbnb in general.

Thanks!

Chase