You need to remember that, hopefully, this is a long-term play for you, so work with a trusted STR designer (I have great recommendations), and spend the money upfront so you can be the most successful in your area.

You don't have to spend a fortune and buy a house directly on the beach to do well, but your starting price point for a viable option in this market is around $350-$450k for a solid 2-3 bedroom oceanfront condo or around $500k for a 3-4 bedroom house within walking distance of the beach. 

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

The HELOC would act as en emergency way to tap into their equity if needed - as long as they don't spend it unwisely!

Spend time where sellers and brokers gather.

I'd look for a good brand and spend some time looking at reviews from a big box store. 

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

I wouldn’t buy a house to live in right away, as I need to spend the first 12 months studying the area.

And the consumer is spending this holiday season.

Spend time getting to know your investment objectives.