That’s why people model this instead of deciding on gut.1031 isn’t off the table just because cap rates look low.You can 1031 into something that’s more “financeable/cashflow-y” than Hawaii — even if the cap rates aren’t amazing — and at least keep the tax from eroding your war chest.

I am a new player to the real estate game and am looking to begin my journey via wholesaling and making connections in the Memphis area.

So a lot of the home runs are off the table before your eyes are on it.

In other words...people that don't have enough skin in the game to even cover the deposit. 

Did an amort table for the following info. 

The market doesn’t care what number we “want,” it only cares about how competitively we’re positioned against everything else that’s live that week.What you said about a small discount being cheaper than a long vacancy is the entire game.

Great to hear you are getting into the real estate game!

I’ve been looking at different STR models lately (not Hawaii specifically), and one thing that keeps coming up is how big of a difference the marketing side makes compared to traditional PM.A couple things I’ve noticed from other investors’ experiences:• Direct booking + strong branding can make a huge impact in high-end STR markets• Relying fully on OTAs (Airbnb/VRBO) in luxury areas usually leaves money on the table• Having solid boots-on-the-ground is huge — not just for cleaning/turnovers, but for fast response times, quality control, and protecting the guest experience• Areas with high traveler expectations tend to reward hosts who manage the “guest journey” themselvesBreak-even cash flow being important makes sense, especially with Hawaii’s pricing and regulations.

You can also go into game theory here and model our economy.

Normally, to do what I want to do, you would need to have about 20% down (150k), but because I'm going to live in the property I only have to come with 3.5% to the table for the property.