I realize it's just an example and my comment is a generalization but just something to be aware of.With regards to the original question, I think it comes down more to what you want to do and what the offer is for walking away vs. rebuilding.That is the exact example a public insurance adjuster used when speaking to a local investor group a few years ago.

If your asset is older and/or smaller, you may have better luck with local community banks or credit unions.

Hi Jerrell,  The best option for trying to get a HELOC on a property would be to check with local credit unions. 

Basically, more than a certain amount of STR and MTR in the same building were considered a hotel and I would have had to have 24/7 staff on site.Were you able to get around that with the local municipality?

Go to BUILD YOUR TEAM at the top of the screen and look for local investors or meetups in your area.

I really want to do local meetups and interact with more advanced investors but don’t know where to start.

Evan,  As a local broker, I’ve assisted many clients with the entity transfer process, often referred to as a "drop and swap."

But they are usually a bit expensive I believe.I would also go to your local REIA and ask around there.

Log beds, solid wood pieces (antique or vintage), antique persian rugs, and decorative items/art that come from the local area.Obviously if you are renting a beach condo, this method doesn't work. 

I would echo this, it is a great REIA and the best place to find local, like-minded individuals and resources.