@Zachary Penn this is exactly what I just did for my most recent rental. I took out a HELOC on one of my properties & bought another one. This was right at the beginning of the COVID spread so my timing was horrendous and I almost backed out of the deal but ultimately decided to move forward.
With my new rental, I'm able to cash flow with OK returns (not great) after factoring in the payment on the HELOC. The payment on the HELOC reduces the cash on cash returns but the way I look at it is some money is better than no money. I was able to get comfortable with the debt & leverage on this deal but I realize that is not for everybody.
If I was you, I would recommend getting a HELOC on your place in Tampa. It doesn't cost much to maintain, mine is $100 per year and had no closing costs to start.
As far as purchasing a property, I'm not sure I would jump in right now, maybe towards the end of 2020 or Q1 2021. Again, I went in because I was under contract, but I pivoted what was supposed to be a market rate rental into Section 8 to mitigate any risk with collections in 2020. It was a pretty easy transition so I felt OK moving forward, otherwise I would've backed out of the deal.