Also, having a rehab budget already laid out with explanations on how you got the numbers would help and is definitely a plus when I look at deals even though I typically wont use their numbers it at least shows a little more effort. 

So it's just personal preference and budget for a host.

Be conservative on your rehab budget, rehab timeline, holding costs, etc.

My wife and I have overhauled our personal budget to reflect the 'pay yourself first' approach (allocate in order: income comes in -> invest -> donate -> fixed expenses -> variable expenses -> fun $$).We are looking to see what experienced people generally recommend for a holding tank for that 'invest' allocation while we target our first real estate deal.What financial vehicles have you guys used that works well for this?

I have a cash budget of about $1.8M, expecting to put 30-40% down on deals. 

For example, I often recommend working with vendors who specialize in rental property maintenance or have experience with rental landscaping to keep your property looking great without overspending.Start Small and SmartFocus on buying a property that fits your budget and investing goals.

From there determining what you have budgeted for your first project.

Stats can be foundhttps://www.ramaui.com/housing-statisticsOr for all islands herehttps://www.hawaiirealtors.com/resources/housing-trends-2/Your realtor can produce more specific stats on your area of interest.

Eliminate debt, establish a budget, and save.

My last rehab was projecting far better than a 2 to 1 return which was fortunate because we went way over budget (my worst over budget by far ever).