Have you read any of the books here in the BP shop yet - I'd definitely recommend the BRRRR book among others. 

Hey Andrea, for STR you're definitely going to want to look into A/B class areas.

You can google or search on BP for definitions of cash on cash, cap rate, etc.

The biggest differences between residential and commercial:  Scalability, financing are very different, property taxes may be different, Insurance is definitely different. 

There are definitely markets that allow Class A properties, and still cash flow! 

Your lender definitely should be able to count the 75%- I'm in Arlington and would be happy to connect you with my awesome lender who has been able to do all kinds of creative options to get to yes for me.

You are definitely right about that.

I definitely like your ideas of focusing on location and trying to get my downpayment closer to 10% rather than 3.5%. 

A quick google search of your state indicates the following regaridng timeline to give notice:30 daysFor tenants who have lived in the property for less than one year, or have a lease for less than one year60 daysFor tenants who have lived in the property for more than one year but less than two years, or have a lease for more than one year but less than two years90 daysFor tenants who have lived in the property for more than two years, or have a lease for at least two yearsI'd definitely touch base with an eviction attorney in your state to ensure you are not missing any steps and to have the attorney as a backup option in case the tenant does not vacate easily.

The advice I have received is that HELOC’s should be used for short term loans only with a definite plan to pay it off.