I would like to look at some HELOC options if possible but I was told I would need to refinance the loan to a conventional investment loan and take on a much higher rate, which I have no plans of doing.

You should definitely call the references of your top potential applicants.

Can we use 60% bonus depreciation on this or no?

There's a handful of active wholesalers on the island that I know and can point you in the right direction, no pressure. 

thanks for your input. im not concerned. ive just never done hard money. thanks for your insight and information. i have all of the information you suggested will be required. im attempting this next week. my worst case scenario is a hard no. that just makes me work harder

Moreover, if you're interested, there's a great Facebook group you can join called Atlanta Metro Short Term Rental Alliance which posts regularly regarding changes in ATL STR regulation.

There is no one best way to invest in RE.

I sent you PM with my number, please feel free to text me or call my anytime

Because like you said, place has been degraded since this person bought C4D so that price is no longer fair to someone entering now, right. 

You are the hero in this adventure called real estate development.