It's easier to show than it is to explain. 

You could try to do a 1031 and roll the proceeds into a house hack.Your idea of a HELOC is quicker and easier, but you'll get less proceeds.Good luck

I live on Long Island, so investing out of state would be easier point of entry in terms of cost 

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

if the building is 10 units or less we have an easy loan no need to show income, easier.

Target areas with companies aggressively hiring college graduates, your rental pool will improve.

The plan: I am identifying on/off market properties that are targets, will do all of the real estate work (listing, showing, advertising, vetting, etc) and will split the cost of the purchase of the home and the material costs for any needed repairs.The contractor will be subbing out portions of the job and be on site mostly full time until the project is completed. 

It's a much easier transaction for you and them.  

I was thinking of doing both but leaning more toward mid-term rental targeting traveling nurses and professionals.

1) All of the spaces are the same and the one unit is higher in rent because it was a month to month and the owner raised the price because it was a travel nurse and was on a month to month lease. 2) The owner is saying I could easily bring the prices up to 2150-2250 per unit and keep it at long term leases to make it easier to manage.