It sounds like you personally are focused on an urban infill strategy which maximizes density and price per square foot rent.

I personally own properties in the counties of Orange, Los Angeles, Riverside and Kern. 

The HELOC would need to go off your personal situation but if needed you may be able to do DSCR on the short term rental.

The skills you learn doing this will pay you actual money but also come in super handy anytime you negotiate with anyone, have to put effort into getting a tough deal to close, real estate terminology, contracts, and so on.Good luck with your journey. 

If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing.

I find TPs rent control too restrictive personally.

i would say it depends on the overall investment strategy. im not really familiar with STR rentals in your area. personally i like the long term rentals, especially if you are trying to be hands off. we have two STR's, one we manage ourselves in FL and the other in Gatlingburg which is managed by a company. even with an STR rental company, i still find myself managing the manager. both require work and are by no means passive. long term (to me) is nice given time investment. hope this helps. 

I personally would use Shane Flipping- Flipping Custom Homes. 

Hi all,    I have a friend / private money person who is going to lend me money to buy a property. 

Personally, I'd be very conservative in my revenue projections on something like this just in case this trend continues.