Aloha Irwin,As a realtor in Honolulu area, I think if I have to rate one of the worst three projects for investments, I think "Trump Tower" would be in top 3.

If you can pay less than rent, and if you have sufficient reserves, that's the way to go. 

Their biggest problems are things like:“my net worth is $10M and $8.5M of it is in my three properties I purchased 25 years ago.

Most owners don't screen their property managers and hire someone they already know (e.g. their sales agent) or someone they find online with cheap fees or a slick sales pitch.I offer referrals along with three promises:1.

All the ones I've tried working with have not been great (three different ones), so I really can't recommend anyone.

Alpha and omega has been the only property management company in the area for quite some time.

I have three rental properties currently, and am also a real estate agent.

Lastly a Heloc will "Never" act as an asset or PITI reserve so if you fail to have sufficient funds required in reserves (Cash) then your will not buy multiple investment rentals.

Almost no lender will allow you to sell the lots separately if all three were pledged as collateral.  

2) PS specific home - We looked at a few and were intrigued by one that is a 3/2 (plus self sufficient ADU, former garage) with a nice pool, yard but 2/2 on city records.