DSCR Cashout is your best bet!

@Nate McCarthy the odds of disputes arising are considerable.

I bet if converted BACK, it would be 4br+, probably a rather spacious 4br+: - a whole lot easier to rent given much more demand for such vs efficiency or 1brs- no longer competing in any way against apartments- no more utility issues, because tenants cover 100% of there own utilaties- no more headaches of wrangling different persons to play nice togetherAnd on and on and on...... 

Best bet would be a “partnership” with a monied individual looking for a high risk/high return passive investment with you providing the “active” part.  

(Foundation, etc)4) Black mold, asbestos, lead paint, other other costly repairs. 5) It need significant cosmetic repairs where the purchase price just isn't worth it. 6) They may have an odd layout of the rooms. 7) Non-compliant septic.8) Trouble with permits or tenants9) Listing agent has a poor or incorrect listing.

You might have to dig into off-market deals, though, since inventory is tight.Multi-Family: Always a safe bet if you can snag a good deal.

But if they gov't changes to a 90 day minimum, you would have to operate as a 90 day rental or longer.And talking to local experts, if you want to own a STR on O'ahu, your safest bet is to buy a unit in a Condotel that is located in the "Resort" zone of Waikiki.  

In my opinion, that is a riskier bet because you have to have a big pile of cash for contingencies.  

I'm betting he'd drive to that area.

Why they are making you bring 20,000 to closing still isn’t answered for me, that’s odd?