The onion is there to be peeled, but it gets worse as we get to the core and we'd rather peel the surface, dealing with much simpler perceptions that are rooted in subjecting some to mantras of laziness and criminal habituality.  

Did you ask what non Section 8 rent would be.. most of the time in those markets I find folks go for section 8 because not only the perception of guaranteed rents  the HUD rents are also higher than the market rents.. other wise why use the system everything being equal..  

I think the overall point is that there will be varying perceptions of any single event, whether positive or negative, by all involved and it is the generalization of those perceptions that often results in misaligned expectations. 

But, if you employ the same accounting principles as an individual, much of the questionable expense matters go away as well.A bigger plus is to marketing, if you advertise as ABC Properties, LLC, the public perception is different than advertising as Mom and Pop.

You could be below market to the "average" unit in the zip code but if you're in the glide path of the airport with jets are taking off every 5 minutes, the Taco Bell parking lot lights shine right in the windows, freeway exit is two houses away, a busy fire station is nearby with sirens all night long, etc then the price may still be too high.Are there any safety issues that could be helped with lights, cameras, etc?

Despite the siren song of higher profits, you never see people sell the class A/B portfolio and more down in class.2.

The only indicator of how the financial information was used, was to generate a pricing quote -- and the perception of that is depending on you have little or much you have, you pay more, or less (I could be wrong here, but that's the perception). 

I personally have certain amounts I act on so then tenant doesn't get the perception I am nickel 'n dime-ing them every month.

When your having your doubts just keep pushing toward your goals and doors will open up as your mindset and perception changes.

I don't own in Hawaii, but my perception from my research there is that it's not an ideal cash flow market right now but can be great for appreciation, which it sounds like would be a pretty good deal in your scenario.If I had that much cash to deploy personally I would be putting it into properties that are most likely to hold value and most likely to gain value.