Also, for flips, I like to reserve an additional 15-20% in contingency for unforeseen conditions or changes. 

Personally, I follow this standard for every application I receive:- Income of at least 3 times the monthly rent (verified through the employer)- Credit score of 580+- Rental verification with past landlords (no outstanding balances, no late payments, and the property left in acceptable condition)- No history of collections, evictions, or criminal offenses- No overdue debt (except medical debt)This process has helped me place quality tenants over the years.

I'd say everything else is the consequence of the 2 points above - the weather and the state of economic affairs influences everything else, including safety, infrastructure, the condition of housing stock, etc.

@Jake Baker Love the approach of measuring the total offers that you send, if you know your strategy most of the time it is a numbers game no matter the condition of the market. 

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.

Quote from @Paul Azad: Beautiful property Blake, and great growing area, i drove through a few years ago, amazing scenerey and perrenial vacation spot, would you feel comfortable sharing the structure of the syndication for the investors, fees, projected IRR, or time weighted avg returns etc from a potential passive investor perspective?

If you're planning to sell later, Ohio requires quite a bit of disclosure about property conditions.

than when it had a mint condition 2000sf home on it?

FHA has no guidelines specifically providing conditions where Bitcoin could be recognized as an acceptable source for funds to close.The way I read this, Coinbase (or the chosen cryptocurrency clearing house) would need to fully comply with every single thing that Bank of America and Fidelity does to verify your identity, and then issue regular normal vanilla bank statements (if you have to use the word "but..." to argue for how the thing is a bank statement, it's probably not a bank statement), which they currently do not (hours spent on customer service, clicking around my account & the borrower's account, etc etc). 

They’re fully renovated (or in good condition) and often come with tenants already in place, so you can start making rental income right away.