if you allow the use of it I would mention something in your contract that the tenant is responsible to manage a controlled safe fire or something along those lines.  

This is a website that was mentioned in BP Money Podcast EP 303.

When you take all five together they should paint a picture, but I also mentioned your gut is important (not your emotions).

You'll definitely get the long term appreciation in the San Diego market since our supply levels remain low which helps to insulate our market here, but it will be hard to cash flow on immediately unless you use one of the above strategies I mentioned. 

There is some additional information that wasn't mentioned in your post above which sheds a different light on the situation.  1.

As others have mentioned it would be very unlikely they would allow that

You mention buying a home or condo.

So after being laid off a few times in the last 8 years I decided to get back into investing but this time focusing on buy and hold multi family real estate so that I could built wealth that could help me retire my wife who just had a long battle with cancer and survived , but is now back to work, and I want to give her a relaxing life free of all the stress of the world (by the way did I mention she is also in the mortgage lending field) so that explains the urgency to retire her from w-2 work ! 

Sounds like the Hawaii business that you mentioned is on the island of Oahu.

With BiggerPockets Pro you can access a lot of great calculators & tools for doing exactly what you mentioned above.