However, if you have an experienced lender that understands minimum property conditions necessary to close the transaction (and also has the products available), you may be able to utilize conventional financing to purchase a neglected property that others overlooked. 

Listen, we are all here to feed off of one another through experience, it counter productive to make remarks like that.

In terms of a 1031, it's definitely a productive strategy when used properly.

Don't just assume that product will be available or that you'll qualify.Always verify the numbers from Redfin/Trulia/Zillow.

Hotels/Resorts have historically taken a large hit during economic decline, BUT do Vacation Rentals get lumped in with hotels OR do they offer a cheaper alternative and continue steady?

Have both options available and using the best product to much your underwriting goals is key.

As someone who works with lenders on the daily, they will look at crime and decline your deal for financing should it pass a certain threshold.

@James Gleeson broker relationships are good and one piece of the puzzle but there are hundreds of brokers who already have their primary buyers for this kind of product of which there are many (buyers).

An attorney would decline to represent both parties in the transaction - as it would violate the right to independent counsel.  

I don't see where Huntington explicitly has a HELOC product for rentals, but they don't say "only owner-occupied" either.