I would focus my attentions here and try to stay local (within a 4 hour drive) as the POH rentals require more engagement.Financing is a tough deal... but sometimes you can find those Mom and Pop operations with quite a few POH rentals that will work with seller financing on a reasonable interest rate with a balloon within 5-7 years. 

Thinking of using a HELOC to fund your rental property?

We are NorCal and are not yet in flipping but looking into long term rentals currently.

This policy will not cover the Tenant’s personal belongings or liability but will solely protect the rental property.

That should cover 2 rental income periods, returning $660 to your pocket.

We are budgeting for no rental cashflow so see upside if we can STR and additional upside when rates eventually and hopefully drop down for a refi.  

I assume we're talking about a rental property. 

One thing to be aware of is the FHA multifamily self-sufficiency calculation which determines if a property can generate enough rental income to cover its mortgage payments.

That being said, you cant really rent out your pool or finished basement to a Long term rental tenant, but you can with an ADU. 

There is no current tax on rental income and capital gains.