It is beautiful and in a prime location but earning anything will be slow going.   

Also, the risk of a balloon is higher in markets where appreciation generally slow, so the market your in matters. 

I'm in New Hampshire.My net worth is pretty good because I own this and another STR condo outright but I'm low on cash flow due to prior rehab and just coming out of the slow season.

You can do this, but it's going to be a long term, slow and steady approach to get the snowball rolling downhill.

Theirs an initial withdraw rate and a standard rate everytime you use it.

Depending on account holding the money you could pay early withdraw penalties, taxes, who knows.

This is precisely what the Federal Reserve wants: to slow the velocity of consumer capital in hopes that pricing comes down.

Get aggressive with prepayment (paying excess principle each month) to get more equity to drop 6.Get a HELOC then pay for another home (rent your first home) then have an interest only loan during the withdrawal period for about 5-10 years. 

If we pass inspection and everything goes well I would be looking for a 10 year lease, with another slow progression on rent until we finish the remaining portion of the property.

Here are a few points to the comments you made:- no rent control, rent prices have jumped drastically year over year- no squatters, Gov Desantis just signed an anti squatter law (House Bill 621)- high US interest rates, cash buyers have substantial leverage in negotiation as interest rates have kept domestic buyers at bay- no signs of slowing down, everywhere you look you will see world-class developments in the works let me know if you'd like to discuss further