The best advice I can give you for studying for you license is to voice record yourself reading questions and answers on notes cards.

Is it better to go down this route vs looking at doing a BRRRR deal myself?

If this sounds like your perfect playground, go for it :) There are STR restrictions in these areas, so make sure you know what you're buying before you do. 2.

It's an amazing place to learn and grow in real estate.

I will say the abatement if you do it right with a good contractor will be pricy since they have to abide by some different regulations on disposing of it. 

If you ever decided to sell the building but keep operating the business, it makes it much easier.

For yourself, I'd save up enough to be able to house hack, and then house hack.Hope that helps.  

Do I get the appraisal?

My weekly podcast about investing in Memphis might be a good place to start and begin to familierize yourself.

I would only do it if it was an absolute no brainer of a deal as if it goes south then you not only hurt yourself on that deal but also the property that you took the heloc out of.This also depends as if your current LTV is 30% and want to go to 50% is different than going from 50% to 80%.