When it comes to the 203k, just make sure you have a contractor start date scheduled, and be sure to contact your consultant (if you have one and its not a 203k limited) to get the first draw scheduled. 

I ended up getting a HELOC but the heloc is at 9% and variable with a 22 yr max term left so it’s not good for anything outside temporary draws.

What is drawing you towards Jacksonville?

I agree with @John Underwood that you will have a niche experience with a smaller guest pool to draw from....but who cares?

The Southeast has had tons of population growth and as long as people can afford the increased insurance costs, the warm climate will continue to draw people.

What is your draw fee & benchmarks for the repairs portion of the borrowed money?

STRs can work near tourist draws like the Inner Harbor.Since you’re scoping markets, we develop, build, and manage Class B multifamily projects in rural southeast US—12-200 unit properties in rural Georgia, Alabama, or the Carolinas.

As an STR/MTR host and co-host in the Atlanta Metro Area, I’d echo Collin’s zoning tip—mixed-use areas like Ohio City or Tremont, as Arman suggested, are prime for STRs due to tourist draw and flexibility.

during the draw period (typically) you won't even be paying down principal unless you make extra payments.so unless you have cash i would wait. 

It enabled me to draw on the financial resources of others while utilizing my own knowledge and experience.So, armed with the power of syndication and a growth mindset, I'm steadily growing my business toward the incredible goal of 100,000 units.