We have STR properties in Oak Island, NC. 

Doesn't seem like the deal to be an island

On Long Island 250k won’t buy you a house.

Before that, I purchased property in Rhode Island.

Now the island has limited owners to one guest per month.

@Mark Sullivan I'm based out of Rhode Island so not sure if my providers lend where you are located.Biggest thing here, I would look for a portfolio lender.

PMs have to keep the utilities working for various reasons (uninhabitable living conditions, pipes freezing, etc) and you can't count on a tenant like this to do that.

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.

Their home has been vacant for over 4 years and is uninhabitable as the city water dept cut off service due to a faulty septic system spilling sewage in both our backyards.

@Joy Daniels I have one of my STRs in that market on Anna Maria and each “city” on that 7 mile island has different STR rules.