And that’s fine it’s not like I will out live the depreciation.

We live in Kihei now since the Lahaina fire destroyed our home, office and an investment condo.

I’m trying to familiarize myself with the area more thoroughly.it seems to have a stable increase in prices.Since I plan to live in the property initially, breaking even in the first year is my main goal. (5% down; PMI removed with renovation)However, I’m also wondering if it’s feasible to have some cash flow from such rentals, or if the risk of vacancy is high in this market.Any guidance or pointers from those experienced in this area would be greatly appreciated!

A giant laundry room, a two-car garage, and a separate living room.

Loss of use is foryour additional expenses if you can not live there due to a covered claim (ie.

It makes sense for house mates, spouses etc. to be Additional Insured on a renter's Insurance policy if they also live there and keep their stuff there (although I think anyone on the lease is typically covered anyway).

There are exceptions, like what was mentioned by @Nathan Gesner, if you are an employee of the property owners, and you exclusively manage their properties, if you're a resident manager, living in the building that is being managed, or if you are someone who manages properties owned by a single entity and have a direct ownership interest in it.

I lived in Cleveland for multiple months and have some great connections to help you get started investing in Cleveland.

Right here on BP, in the BP Store:https://store.biggerpockets.com/products/lend-to-liveLend to Live is the bible for HML. 

David,Yes, investing out of state can be a wise choice especially if you live in a State like CA, NY, NJ, CT where home prices are over priced and taxes are brutally high.