The tricky part of doing a 1031 exchange is lack of inventory for purchasing a replacement property and meeting the time restrictions.  

As @Eric Greenberg correctly pointed out, significant restrictions on STR use was implemented at the start of 2023.

Have you talked to the county permits and zoning office to find out if there is any restrictions on the property?

I've never actually seen a HELOC where the bank restricts what you can use the money for. 

Plus you have to deal with HOA restrictions, possible special assessments, etc.

I recommend checking with your HOA to see if you can rent out your condo and if there are any rental restrictions.

@Chris Hutchens Eastside primarily (most distressed area that is a big focus outside of downtown), Harvard Place/Eastlawn, Denver Heights .. many near St Phillips Coll, UTSA, & the AT&T Ctr .. and expand out

Regarding STR, there are restrictions, and they vary. 

This is because the LL has few options to terminate a lease that might as well restrict when tenant can leave without having to cover vacancy.  

On the other hand, some disadvantages of HOAs include the potential for restrictive rules and regulations.