Often you are getting a pretty sizeable discount for your efforts, resulting in both captured equity and cashflow.The best ugly properties go quickly, so when I was looking, I got in the habit of searching daily.  

You may need to put effort into separating the electric between the units as well because circuits may be shared between the units.

Rather than concentrate on the initial cash flow, concentrate your effort on markets that have indicators of strong rent growth.  

There is little to no cash flow so there’s more risk than reward for my efforts.

It seemed like there was no real effort or attention to detail.

Absolutely, creating a baseline business plan is a crucial step when starting in real estate (or any field) because it provides clarity, direction, and a strategic foundation for your efforts. 

When you add rehab costs and effort, holding costs, and selling cost there is not much profit. 

Google says:As of January 2, 2025, four homes had completed construction in Lahaina, Hawaii, after the August 2023 wildfires.However, rebuilding efforts are still ongoing18 months and they’ve already built 4 homes.

That's too much effort required to earn a few dollars on a short-term stay.

Unfortunately the people who promote them do a great job of selling the dream of high returns for zero effort.