But what I see many people missing the boat is making sure numbers work if the STR does not produce - does it work as a regular long term rental.

If you took the equity and bought a non income producing asset (aka a liability aka a boat or nice car) that would be a big mistake.

I am in bay area and I am in same boat as you are in.

We get mostly folks from Virginia who bring their boats down.

My wife were in the same boat a few years ago and decided to take the plunge.

I'm in the same boat.

@Edith Lagunas same exact boat as you over here

and it could potentially cover a few random things (vehicle rentals if you travel abroad, sometimes boat rentals, etc).  

My dad who owned property till his nineties was in the same boat, we set up email addresses for him, but he never owned a computer or even know what his email address is, or even have one.Having seen it happen, there are cases where people cannot be located, and even if you have a phone number or email address, they have no access to it.

I am in the same boat as you Derek - curious what the outcome was?