Cashflowing in low-cashflow areas. Who are you?

[Ty Y]

Aloha from the land of very poor cash-flow opportunities. Well, at least that is how it feels sometimes. I live in Honolulu Hawaii where our typical dwelling is the 650 - 800 sq concrete condo that has potential rent at 1400 - 1600 and costs at least 300k. Not counting our maintenance fees of course. Homes go for about 600 - 850k depending on the area. I bought a primary residence last year with no intention of ever renting it, but It's time to consider growing.

I am an avid lurker. I live by googling the heck out of every topic... I hope you all appreciate that. What I am interested in knowing is now whether or not something like this is possible, but who out there (screen name so i can search the postings) have made a good run getting cashflow out of an unusually bad market like Honolulu. obviously there are investors in MASS, NY, CA etc that have these challenges. i'd love to read some of their back postings and nuggets of wisdom.