I know there is the theme of lack of affordability and that always seems to be the case in some areas.

Short term rentals are definitely better for cashflow, but make sure you get big properties, with a pool maybe and make some nice theme out of it.

The Road to Real Estate RichesThe Road to Real Estate Riches is like a journey you take to reach a special place, just like going on a family vacation.But instead of going to a theme park or a beach, you're on a journey to build wealth through real estate.Imagine you have a treasure map, and on that map, there are houses and properties marked with X's.

@Alecia Loveless while not the theme of this forum I believe your sister might be approaching her Texas SF portfolio incorrectly.

However, this is not specific legal advice, just my opinion.The overall theme of what others mentioned is about right, the main thing it seems you are concerned with is how this all plays out as you fund the LLC from the HELOC, go through the repair process, sell, and rinse/repeat. 

As for the exterior fresh paint and landscaping goes a long way on curb appeal.Look for the common theme in the neighborhood within the fixed up properties that are selling and try to mimic that, no need to reinvent the wheel.

This is a common theme in these market's, that they trail primary by ~24mnths.  

This is a common theme that continues to come up - there should certainly be this product available in the coming years as part of the evolution and institutionalization of the STR industry, however with the turbulence and concern in the STR markets the last couple of years, hasn't emerged yet.

Not having seen the property its hard to say what those upgrades are but an example might be that in the era when the house was built there was a theme of everything being painted grey.

While doing my research I have noticed that a common theme for most first-time investors is that your first deal is typically the hardest, but, after the first, the rest come easily.