Highly recommend you connect with a local expert such as @Josh Green!

We have a bay-side waterfront property under contract in Panama City Beach. This is a new market for us.  Our current insurer only writes policies for < $1M.  ARV on this property will be in the $1.6M range.  Anyon...

Does anyone have any recommendations?

I recommend to my clients to use the SFH markets to generate short term income and wait to catch a 2 - 4 unit property and when they pop up throw those in the portfolio. 

My brother, who owns a business, actually recommended keeping the house and to use HELOC for the second home.

This is what I recommend for you to get started in your real estate journey:1.

Can anyone recommend any other similar websites or a way around this limitation within white pages?

The contracto I used needed baby sitting and the attention to detail was lacking so half way through the reno I was more particular and communicated my expectations clearly and ofter Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I recommend people enter RE at this time only if it is a passion and they are extremely motivated and hard working.  

Every day for weeksI'm not recommending this for anyone, but I would stop at obviously abandoned properties that had potential and wander around, looking in windows and sometimes going into the house - through an 'unlocked' rear door of course :-)Sometimes the windows are boarded up and you cannot get a view of the inside....then it's just your knowledge and your gut once again.Go to the County and look up the owner....send them a nice letter....even make a dollar offer if you feel so inclined. 1 in 10 might respond.This is the way to find deals with a lot of equity potential IMHO.