I’m finally moving forward with purchasing a small duplex with a fair amount of cash reserves and excessive credit card lines thanks to travel hacking (I don’t intend to use them, but it’s nice to have them there).

Your providing the IRA a benefit is an excess contribution - but not a PT.Am I mistaken?

Hawaii is a good place to hold on to properties if you get them, but like Alex said - you can put the "excess" income to work in the mainland immediately. 

Also what's your market look like by the time this comes online, will rents stay the same or drop because of excess new inventory?

In any case, you might find the cost will be more than just trucking away excess dirt (or relocating it on site, if you're that lucky). 

Most lenders who charge anything else before closing (especially in excess of a couple hundred dollars) is a scam, but some may be legit. 

@Sean Gribbons I have not done it for houses but I have purchased several places on large lots and split the lots to sell off the excess land.

Silverwood has bought & sold on FCI, though sellers typically want top dollar, and be careful of excess baggage & associated problems like liens, taxes, and such.

$200 does seem a tad excessive. 

Profit distribution in excess of your wages are still taxed as ordinary income but escape self employment tax, which is 15.3% on top of income tax.For example, let's say the profit from a flip is $100k and you draw $60k salary.