The main condition was I had to have the downpayment (20%) first, close the deal, and then execute the owner financed 2nd mortgage. 

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.

Purchase price: $69,000 Cash invested: $35,000 Sale price: $120,000 Summer 2018, I took on this off-market fixer-upper in the Polytechnic area of Fort Worth.

Startup costs related to the LLC or marketing may be partially deductible in the first year, with the remainder amortized over 15 years.This post does not create a CPA-Client relationship.

I do believe you are entering a tough market.  

Although the rent was slightly higher than the market rate, restoring the property to livable condition after just one year cost over $15,000.The property isn't listed on major platforms.This is concerning.

With markets adapting to changing economic conditions, now is the time to explore innovative investment strategies.

I prefer buying sub $200 in a market where median is $350k+, long as it's fair condition, ancillary/satellite MSA, because I know time will slingshot appreciation. 

Quote from @Benjamin Finney: I'm curious what real estate investors and private money lenders like myself use to inform their businesses strategy and predict future market conditions.

Look to buy off market.