DC has its own set of rules—often requiring a Basic Business License with endorsements for specific trades. 

The guy I signed up with basically knew nothing more than me filling out the application. 

big question is what kind lawyer is going to work for less than 200k and only do basic landlord stuff ?? 

Hawaiian real estate law differs from other western states significantly, mostly due to its monarchal heritage and the Bishop Trust influence.The basics are the same as would be in California; determine the condition of title ownership (individual(s), estate (including conservatorship, if appropriate) OR fiduciary acting for trust.Use a qualified private money equity lender to make a loan sufficient to buy out the cash-only beneficiaryThe legal community in HI and Big Island in particular is small.

That's a massive savings!

In my case, I went with a basic personal loan initially because it was more lenient with my lack of work history, even though the rates were slightly higher.Some resources, like Loansinfinland.fi, can be super useful for comparing loan options for unique situations like yours.

Just some basic stuff you should try to follow if able.

I ran some very basic numbers on option 1 and if you can get a ST/MT rental per your comments and other assumptions you list, this could be a deal for you.

Basically, the further you get away from the city the more potential for cashflow, but you're also dealing with a different tenant base that may be tougher to manage.

We only disagree on what is basically a customer service issue.