The Building Dept on Honolulu is notoriously slow too.

They want quick ROI initially, as any startup would - I understand how real estate works and that it's a get rich slow game (if your're focusing solely on rentals).

Is the market slowing down are just getting back to normal? 

The real estate business there is already slow as people hold their breath to see what happens. 

They are both slow process, going to be much more stringent on the inspections and can come off as a weak offer to many sellers.

Because I think real estate is peaking and expect it to slow or correct in the near future which may put a hiccup in your plan anyway.

(I'm a slow learner.)Another consideration, talk to your HVAC person, (maybe two or three) and ask about how long new systems are supposed to last.

The IRS is sometimes *very* slow to move; but once they move it's like an avalanche and you don't want to be on the receiving end of their collections arm / prosecution arm.

They are predicting a slow down as well but put vacancy rates to be flat and rent increases to go down from 4% from last year to 2% projected for both 2019 and 2020.If you have a deal that should get you to IRR of 15+% I wouldn't hesitate.

I know that before too long, he is going to at least want to slow down, so I am thinking of offering up some sort of partnership where I could take on more responsibility, get some equity in the business, and eventually buy him out upon his retirement.