You need to tighten up your budget and work on getting your HELOC paid down.Without knowing your whole financial picture it is impossible to answer other than pay down the HELOC.

Money is tightening up anywhere (I read something about bonds being pretty lucrative right now, safer bet).

I’ve sold properties recently in heavily restrictive communities as they’ve began to tighten rules.

Probably wouldnt be an issue for the next few years but I agree with you if the city decides to tighten regulations via third party I might be opening a can of worms.

Your point of lack of housing versus lack of affordability of housing is exactly why it'll be primarily a renter nation, and the allocation of rent to income will tighten sharply.

Austin Business Journal released an article this morning titled "Austin City Council moves to tighten reins on short-term rentals"Political Significance: City council voted to approve an amendment to be drafted to City Code that governs STRs.

The most they can do is pass a bill that tightens regulations on tax hikes, pass a law that allows residents of Texas to vote on tax increases in their local community, or increase state funding for public education (the largest item that property taxes cover).

Our reputation to outside areas is that it is high crime and racially strained (from direct talks I've had with a state politician). 

The market I'm looking in is tightening and becoming more a sellers market...

Thinking of the ultimate end goal will help you further your short term goals and really tighten up your strategy.