If so, I always recommend getting the study done prior to rehabbing.

The third property has a nice cash flow.I am wondering if there are steps I can take to reduce the cashflow issues of the 2 properties before obtaining another property, like pay down the mortgages or should I just save the cashflow from the third property to pay for any future expenses?

Credit (loans) become much more difficult to obtain and if available you pay a MUCH higher interest rate with a much higher down payment requirement2.

No one recommended a bank at the time for the SDIRA, it was only trust companies as the custodian.

Purchase price: $145,000 Cash invested: $15,000 I obtained the home 9 years and am holding it for cashflow as a single family long term rental.

I recommend that you speak with a real estate accountant to see if you will benefit from a cost segregation first. 

Going to property tours inspired me to obtain my real estate license in the state of Georgia; and look further into property investing and helping others achieve their real estate goals.

. $120k out of pocket money down to obtain the funds.Huuuh???

We didn't because we needed to provide POS in order to obtain our STR permit being that previous owner had a permit on the property already.

To get started - I’d recommend connecting with local STR investors and researching Hawaii’s regulations.