Quote from @Joanne Bragg: I found a great property at an excellent price to flip.

Not sure if your property is in that area as you are a bit West.

Just make sure that the new property can cover the HELOC payments as well as its own mortgage.

Buy a quality property, stay away from the hood, rehab it as if you would move in, take your time picking a tenant, you'll be find.

Purchase price: $420,000 Cash invested: $120,000 5 bedroom 2 bath property with pool, shed and playground in the backyard.

Great, there is a lot of guides and resources on managing properties here, and analyzing deals.

We also own a rental property.

I'm looking at properties in Kentucky and Tennessee currently for LTR.

Another thing to add is the regulations, HOAs and Cities are imposing a lot of regulation on short-term rentals or rent by a room, I have seen some HOAs regulate the amount of people authorized to rent the property too.It requires to do a lot of due dilligence to begin with mainly in such big house. 

We've been buying properties in the southern US and have had pretty good success.