Best bet would be a “partnership” with a monied individual looking for a high risk/high return passive investment with you providing the “active” part.  

Often times, there's houses or land worth $500k listed with an opening bid of $30k which is a fantastic deal; however, if you were to win the auction, there may be multiple liens and $100s of thousands of hidden fees that you have to pay at once (based on what I read online).

But if they gov't changes to a 90 day minimum, you would have to operate as a 90 day rental or longer.And talking to local experts, if you want to own a STR on O'ahu, your safest bet is to buy a unit in a Condotel that is located in the "Resort" zone of Waikiki.  

The landlord must take to court a copy of the Notice of Eviction, the Affidavit of Service, the Complaint, the Summons, and any witnesses or evidence needed to win the case.

It is also the seller's fault for accepting it, they full well knew this was not right.If you were to file for eviction for non-payment of rent, you'd probably win.

For a new agent to land a listing they typically over promise a seller a high price to win it and then spend money trying to find the magical buyer to purchase it.

Moving forward scaling with hard money loans may be the best bet and would avoid the headaches of living in a construction project. 

Quote from @Brandon Foster: Hello Ryan,STR is do able in the north county area but there are a lot of rules and regulations.The city of Oceanside right now will not allow anything STR unless it’s west of pacific coast hwy.This is changing a lot too so you need to be aware of that in your plans.Carlsbad is super strict too but there are some condos that are still available to do STR in.Medium term rentals are as safer bet but way less profitable.

Don't get me wrong the market goes up more over time then down but if you happened to take out the loan when the market was at a high point this would actually be a win for you.  

They don't care about doing the right thing they care about hooking, selling and maintaining appearances just long enough to win business.