My initial thought is LTR single family or small multi, though I'm not opposed to short or med term rentals.My primary question has to do with LLCs. 

Additionally, the beach is still within reach...just a short 1 hour flight or 6 hour drive.  

Will you use the HELOC as a short-term bridge, or plan to hold it longer?

Ultimately, the decision should align with your long-term and short-term goals.

Conveniently located just minutes from the interstate, this home offers an easy commute to Bangor and Newport, while Etna Pond and its public boat launch are just a short drive away.

It’s a bit risky unless you’re sure you can replace the funds, but it could work for short-term needs.4.Roll into a 401(k) and Take a Loan: If you have access to a 401(k) plan (Or can start one for a business you run), you could roll your IRA into that plan and take a loan against it.

Give me a shout if you have questions, but here's the short of it.Best financing is going to be from a bank or a conventional construction loan.

Foe example I constantly talk to people from miami area and it's attractive for them due to price diff.

Build a system that attracts the right audience.

When a rental is taken out of service for personal use the accumulated depreciation goes away over a short period of time.