We can’t profitably turn it into a LTR, or easily anything else.Desirability - well two favors balance out.

We came heros a market that rentals were very few to now a decent balance, I'm currently renting one , let's see how many days do I take to rent as reference .

You lease should state a interest fee for unpaid balances.

If the deposit does not cover the charges, then you should consider whether you want to pursue collecting the unpaid balance or write it off.You did the right thing, and the tenant's behavior proves you were right.

Blaxktip is in serious trouble with a warrant just about to be issued for contempt of court.A garnishment of his bank account happened the other day wiping out his Chase bank account balance.  

I consider that a liability,  don't want it on my balance sheet and if I were out of funds I would sit on the sidelines before entertaining that deal.

Perhaps supply and demand were so out of whack before 2020 that 450,000 less people still isn't enough to create a balanced market? 

If you use a HELOC I would do a project where you can pay it back(BRRR, Flip) and not keep a balance. 

How do you balance these strategies, and what signals do you look for in deciding to hold or flip a property?

Sure, it’s easy to get nervous about over-leveraging... no one wants to feel like they’re juggling flaming torches while balancing on a high wire.