I was fortunate enough to live in Detroit for several years, so I was able to establish a network before moving back to California.

I’m from Miami would love to start an Airbnb in Orlando I can not say from personal experience.

I am betting your gonna find a lot more friendly amicable persons than shut doors. 

Also, the transunion credit and background check is almost $50 per person.

However, I'm short on cash (will be putting $20k of my personal money into this)  and I am exploring creative ways to source funds for the project.I’ve been quoted for a $100K HELOC on my primary residence with a 30/1m ARM at a 13.25% rate and APR, with an interest-only monthly payment of $1,016 and $3,825 in points.

Don't talk yourself into a place because of personal use.Buying a $475k condo that brings in 35k in gross rental income will lose a lot of money.

@Levi Perl Since your single-member LLC (SMLLC) is a disregarded entity, all rental income or losses are reported directly on your personal tax return rather than at the LLC level.

This is a very personal question that is difficult to answer. 

The primary residence exclusion is $250k per person on title.

Not sure if they have upgraded to desktop appraisals but if they are still doing in person appraisals , make sure you get everything (scope of work, good faith deposit, social, LLC docs, insurance, proof of prior experience, financial statements) in ASAP.