Interestingly, I live in my community (Marco Island) with my short term rentals and have for years.  

You will need to have experience in short term rentals to interest a lender on this.

So short of buying it when you know something is failing it’s going to cost more than not having one. 

We were looking for one because a tree fell on our Short Term rental.

I'm interested in everyone's opinions on using a HELOC to purchase turn-key rentals for the short term and covering principal paydown across all new mortgages / loans ( HELOC ) through excess income. 

The upstairs is approved for short-term and long-term rentals and has a kitchen, bathroom, and a Victorian room that could be a bedroom.Notes:-There are three vaults, one on each floor.

Leaning towards short term rentals to start then transitioning to long term for less stress over time.My goal is to have 'passive' income equal to double the national median salary.now my questions for yall.1. does all of the above make sense?

@Silas Melsonhi. a few reactions.1. there's no cash flow in the short term on a turn-key property. 

With a thriving tourism scene and steady year-round visitors, it’s perfect for short-term and long-term rentals as long as you are choosing an unsaturated asset class.

Short-term rentals on platforms like Airbnb or VRBO can cover costs.