I bought from a primary homeowner in Indianapolis metro area who took really good care of this home (I did live in this house and rented it out when I moved back to California) and from a flipper in Indy more recently.As far as primary homeowners, they can range from taking really good care of the house to someone who has a lot of deferred maintenance - I renovated a local property that had a lot of issues.  

There is an annual NARPM convention that's pretty good.

Repairs and Maintenance are not cheap and shipping carpet/furniture/etc to Hawaii calls for huge price premium so I would be sure keep a reserve for replacements.  

Most new investors do not have the stomach for rehabs or the maintenance of owning an older property.

@Yixin Huang when it comes to accessing the property and maintenance, you want to DOCUMENT EVERYTHING!

Will you be needed for maintenance?

I would lend that 130K in short term lends at 16-20% annualized turning that money over every 6 months and use the returns to buy real estate.

Will be far easier to purchase more property with 10% downpayments vs 20-25% for each one.Umbrella insurance isn't too expensive, $2M for $1200 per year.Just be sure to run the properties as a good business, address any concerns brought up by the insurance company (they usually do annual inspections). 

If there is no HOA because it has been family run, it will be dicey, but generally if it is a private road, all those on the road are collectively responsible for maintenance and improvements.

So what’s been your average annual gross for a 2/2 beachside?