Lastly, unless you're married to this particular property, you should keep an eye out for other properties that just might be as sweet a deal.Also, about the HELOC, once it’s funded, those funds can generally be used for any purpose but double check with your lender JIC.

Below is a general description of the properties they are willing and able to rent:Type: Single-familyConfiguration: 3+ bedrooms, 2+ baths, 2+ car garages, 1,100 to 2,500 SF, one or two stories, lot size 3,000 SF to 7,000 SF.Rent range: $1,900/Mo to $2,400/MoLocation: See the map below for the general areasToday, these properties cost between $350,000 and $475,000.

And in general, do you believe it is worth the 25k+ price tag?

Condo's are generally bad investments, and unless you feel like tax "savings" are the saving grace for it I would step away.

Additionally, the Georgia Attorney General's website includes information about mortgage foreclosures and might have resources for tracking auction outcomes.

And along the bay generally there is no smoke there :)  ANd if there was it would be quite short lived.

I don't know if the returns would be there unless you are doing something at a scale where you have half a dozen to a dozen STRs in the same general proximity. 

Sooooo, looking to you guys for some great recommendations for a Realtor in Dothan, AL or the Wiregrass, in general.

Overall, I am looking to seek connections and resources to learn as much as I can about real estate investing in general and grow my network in the area.

If your friends are real estate agents that have never invested in, rehabbed, or generally owned property, than I can't foresee them being much help.