@Vidit Maini You might want to be more specific regarding what type, if business you want to start.

If I were you, I would really try to narrow down the search to three specific cities that you're interested in.

I'm hesitant to set a utility cap, as I worry that disclosing a specific amount (like $500) could deter potential tenants.

With all of that in mind, I think it would really be dependent on where you see that specific market going.

Sometimes I have even directed troubled tenants towards assistance programs (such as single moms because there are a lot of programs for them specifically in my area especially).

Dig into reverse mortgages before pulling the trigger on anything, specifically HECM's (FHA product).

Your specific variable expense assumptions are wrong, BUT you stumbled into them being correct overall.Also, you are approaching this correctly - entering in the numbers to generate a purchase price that meets your metrics:)

Stats can be foundhttps://www.ramaui.com/housing-statisticsOr for all islands herehttps://www.hawaiirealtors.com/resources/housing-trends-2/Your realtor can produce more specific stats on your area of interest.

You're buying a specific property, in a specific location, in a specific condition, subject to local rules and regulations.

Feel free to DM if you have any specific questions.