Once they're paid, your score will go back up. 

Pull the equity out and get your money but also keep the asset and have the tenant pay the note and build your equity back up for you.

Do you have any stats to back up these predictions?

They drain it after each guest, clean the hot tub, clean the filter, fill it back up, put in the chemicals and we are good for the next guests.  

I love Google Sheets, which is effectively the same as Excel but Google's version (and free with cloud backup).

To overly simplify: debt used to purchase an income-producing asset (like it sounds you're planning to use it for) that you can borrow at a rate lower than the rate of return you expect to get from that asset.Even if property prices decline during a potential recession, I think the general consensus is (and I tend to agree), that the most we'd see unless there's WW3 or another crazy black swan event would be a temporary pull-back of ~10%, and as long as you're still cashflowing based on income/expenses, you should have no problem holding until the market comes back up, which it inevitably will.What I would caution you on though is make sure to read all the fine print of the HELOC! 

Unless the property makes money as a LTR as a backup plan, not worth the risk to me

You hold on to it until the market gets back up and then you have equity.

Currently wrapping up the architectural and structural drawings to submit to the city and then will be able to provide a solid budget with backup.

Or will they wait until prices come back up another 10-20% and start posting about the “next, next crash”.