However, I've been warned that investing in vacation rentals can prove disastrous if the politics of the region are unfavorable.That is, in certain areas in California (Coronado I've heard for instance) the city has essentially banned rentals for under 30 days, effectively destroying the Air B N B and vacation rental market there.Does anyone know if there's any such push in the Avila/SLO area by local politicians or the community?

I would strongly second @Jordan Moorhead's words on the cash flow side of Austin.  

@Jordan Stallard, a HELOC is revolving credit and I believe in revolving it.

I see you're also a Naval Aviator, I'm an Air Force engineer/PM (at least for a little bit longer!)! 

VAT system: 2 hamilton air units (including ductwork) 1 diebold drawer

It's amazing how these notices seem to create rent money out of thin air.

My primary demographic will consist primarily of property investors with Air BNB's.  

Not asking you to air your family secrets, just be clear what kind of partnership you are discussing, and what you bring to the table.

Hoping to set up an AirBnB near an air force base that would primarily serve soldiers on short term assignments.

Don’t expect anything to be plum or expect air tightness.