Hunker down, regroup, save some money, live frugally, get grounded. 

If they get divorced before they are 30 they have time to regroup.  

Example: This past year, I've been working with the RE group in a big company.

you say that you "were told to" get an STR for tax purposes, which seems odd, and that you only have 30-40K... and you might use HELOC money to help with the down payment, which will just put tremendous pressure on you to be profitable and support all of the debt.unless i am missing something i would back up and regroup before you buy a random STR in a random market and hope it supports all the debt you will have to have...

I'm taking this one on the chin and regrouping.

My local RE group is looking at having a webinar with people involved in those businesses to share their experience and that it's not as easy the social media gurus say it is If you haven't already joined a local meet up group, I'd recommend that to help you narrow down your strategy and market. 

Sell the rental , regroup , and never get in that high on credit cards again .

Hello, I'm not familiar with Rome but wanted to suggested looking into meetup to see if there are any RE groups there or nearby that would have people that can point you in the right direction. 

That is the FREE Creative RE group.

YUP I have bought a number of houses at court house steps were the owner said it will never go to sale as I have a buyer.. well buyer is wholesaler who has no money and they cant flip the contract and the poor owner loses their house no time to even file a BK and regroup.. wholesaling is a very sleazy business the way MOST folks do it.. thats why its starting to get attention from the states..