Have seen some price reductions from asking rents or higher priced segment of the market. 

Consider selling the duplex to put it into a higher income producing asset (out of state, DST, something).

You are not far away but with the down payment and budget, that would put you in some rougher areas which typically have higher turn over or more up front capx.

For illustration purposes if I were given the opportunity to finance my construction projects at 8O% LTC full recourse or 70% partial recourse I will select the higher levered recourse option because have confidence in my projects knowing the debt is sub 60% LTV and want the benefit of leverage. 

MULTI FAMILY HAVE HIGHER ROI AND CASH ON CASH RETURNS.

And the agent license was same, I didn't want to represent clients, so the ongoing cost and time investment was not worth it.I had never heard about lenders allowing higher LTV, or anything like that simply because you have a license.  

You'll also pay about 1% higher interest on an investment HELOC. 

Some higher end beach areas like The Bluffs here people are opposed to STR and you could be met with some hostility. 

-Do the area demographics support occupancy and higher rents (population growth, low unemployment, low crime, increasing wages)?

MFR have a much higher success rate in New Jersey.