Since condos need two types of insurance and many of the largest US companies pulled out, the cost tripled and with less coverage.

I’m from Long Island with similar price points and rental laws to NJ.

Hi Craig,I'd recommend Bank of Hawaii - it is the largest bank on the islands, and have a long traditional of being a solid, conservative bank.  

There are only 3 major banks on the island. 

If you are doing 4 people, remember to add extra storage in the kitchen and to have at least 2 if not 3 prep areas (eg island and two places on the main counter) and a larger fridge.

And exciting and for the very few that can pull it off can be quite financially rewarding.. you don't need architect type skills that's not needed until your actually going to build in most cases.. what you need is land planning Zoning city politics and it helps to understand basic underground construction .. but you don't need to be an engineer or especially an Architect to pull these deals off..

FYI, we have a log cabin in Lake Lure NC and and Home in Tybee Island GA. 

I have seen 3 studies recently comparing home ownership compared to renting.  1) 50 out of 50 largest markets it is initially cheaper to rent than own 2) 97 out of 100 largest markets it is initially cheaper to rent than own 3) 95 out of 100 largest markets it is initially cheaper to rent than own.

I am from the island, looking for investment property but i don’t know the process either.  

Mike,I am in Pinellas County, Florida and our area by Seminole, Treasure Island, Madiera Beach, Saint Petersburg/St.Pete Beach, Tierra Verde are all great LTR and STR spots.