I do a know a few CA investors that buy all OOS (Texas is still a popular place to invest) but the majority of investors I've talked to at meet ups and friends and family still own in CA.

Alternatively, the Short-Term Rental (STR) loophole allows losses to offset W2 income if you materially participate.

If traditional banks aren't providing favorable terms, consider alternative lenders like HML or PML.  

Hey Phillip - DSCR's have become a popular route for the refi portion on BRRRRs.

For HELOCs without W2 income, look into local credit unions or community banks, as they often have more flexibility with alternative income verification and rental portfolios.

However I wouldn't expect this to stop you from getting approved, but it may mean you should consider looking at alternative options or structure the deal in a way where you won't be caught with a net loss due to the PPP.

It also has become a popular travel destination over the last 5 years or so, so there has been an increase in competition in the STR space as well. 

My goals would be to increase monthly cash flow and have more access to the property's equity for things like Cap Ex, etc....Here's a blurb from a lender's website:"By combining banking functionality with home financing into one dynamic instrument, borrowers are able to save tens of thousands of dollars and years off their loan""Designed after popular programs around the world, the All In One First Lien HELOC is the nation’s first transactional offset type-mortgage program.Home financing and banking combined:Deposits lower your loan’s principalFunds remain available for expensesInterest is calculated on the average daily balanceThis lowers the monthly interest paymentsTens of thousands of dollars can be saved over the life of the loanMortgage freedom can be achieved in half the time or less

It seems to be but the pricing is just way higher than the alternatives. 

Alternatively, you could skip the cameras and post signs everywhere (and in your marketing) and just claim you have cameras.