Like anything it has to stay balanced but small gestures go a long way in reducing turnover and mitigating many "would be" issues. 

Major cities where STRs have only began rising up and gaining public spotlight with the rise of AirBNB are more likely to have more shifting and less stable regulatory environments since those areas are still in the process of trying to find the balance for STRs within their markets. 

I agree on the professional partnership with my parents and I’m looking to discuss more with them to find the right balance!

There's no balance there.

I guess my challenge right now is to define the strategy and balance all the factors, such as job and population growth (value increase), cashflow (demand & supply market, interest rate, property tax, maintenance cost), and risk control (insurance etc). 

They may have just paid the entire balance that accrued at one time.

Once you purchase the property, you can look into doing a cash out refi to pay off the HELOC balance. 

For investors focused on socially responsible projects, this balance can attract support from communities and municipalities.5.

It’s a mix of strategy, management, and a little bit of chaos, especially when dealing with unruly tenants or trying to balance your budget while upgrading properties.

Johnson City could be a great spot for STRs, especially if you focus on hospital staff rotations, visiting professors, or traveling professionals, which would balance out any seasonal dips in tourism.For STRs, consider targeting weekend travelers exploring the Appalachian Trail, Boone Lake, or local festivals.