This can become dicey and should be paid attention to when buying a property.

Ive been thinking about selling one of my properties and buy a small beach front condo in this same same area for Airbnb.

I'd call the marshall's office to ask them. 

Investment Info:Small multi-family (2-4 units) buy & hold investment.

People told me the exact same thing when I was buying sf houses right after the bust. 

I'm a new investor looking to buy and hold turkey properties in Hancock County, Indiana.

BiggerPockets also has a calculator you can use to analyze deals and I highly recommend you start this as soon as possible, even if you are not ready to buy.

I recommend you print, study, and highlight the HUD guide: https://www.hud.gov/sites/dfiles/PA/documents/HUDAsstAnimalN...You should also check with a local HUD office to see if they have any additional guidance they can provide you.Keep in mind, not everyone is subject to Fair Housing requirements and you may be exempt from allowing the ESA! 

So I asked myself, in todays market is it better to fix & flip or buy & hold?

I’m looking to start with a long term buy and hold deal - your concern about HELOC is what I was worried about.