Single family homes are exempt from rent control when privately owned.  

It is also more common in the private money space, to bait and switch.

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.

If you’re looking to connect with private lenders, start by tapping into your existing network—friends, family, and colleagues can often be a great starting point.

This is one way to manage costs risk.The ways to own the property besides FHA & conventional loans is with private loans, investor DSCR loans (non owner occupied); seller financing, lease options, partnering with others to take the property down..... 

Hello everyone, I have recently gone under contract on a property and was able to agree to a private loan with a family member to purchase and renovate.

I suspect that you'll have better luck with a local bank or private money, though it likely will still be challenging. 

Financial Highlights•Acquisition Price: $72,000•Renovation Costs: $35,600•Total Investment: $107,600•Funds: raised from personal savings and private lender How did you add value to the deal?

They were a hard money / private mortgage lender out of Las Vegas doing about $30 million annually.

You can also message me if this is an option you're seriously considering and I'm happy to chat with you about BiggerPocket's private community for syndication investors called PassivePockets.