But for some, including myself when we bought in 2015, breaking even or even losing a little each month was okay in order to own a property in Hawaii that we could also use ourselves.- Does the condo have an existing STVR permit or will you need to apply for it?

In some areas certain provisions MUST be included in a lease.  

This should include potential rental income, expenses (including property taxes, insurance, maintenance, and potential vacancy), and your expected return on investment. 

This doesn’t include any raises or bonuses.No kids yet, but we plan to have them down the line.Both of our credit scores are over 800, and we have no debt.The plan:I know sellers don’t always love FHA loans, and they can be tough to get approved for, but I’d like to use one to make this work.

. - Your portfolio will suffer:(You want a PMC that has great systems in place, including a great portal where you can keep tabs on eveything.You will also need to manage your PMC on a regular basis.

S8 standard voucher amounts INCLUDE all utilities.

Helps with your debt to income, better opportunities at cash flow, and typically requires less down to purchase.In regards to challenges, I usually build in an extra 10-15% to deal with things that I can't see behind the walls, including dry rot, electrical or plumbing issues, etc.

The home needed a lot of work including roofing, windows, siding , kitchen, baths, and mechanicals.

Mostly a single ADU added in a single family zone area will add less value than the cost of the hands on addition.Depending on the financing my underwriting with a high LTV (80% LTV) for $200k would be cash neutral at a rent point at about $2200 when allocating for all expenses without including any land value.  

This agreement with your general contractor acts as a roadmap, with clear expectations and protection for all parties involved.One frequent mistake is the failure to include sufficient detail or being too vague.