I've been in the Hawaii flip scene for about a decade.

I'm trying to Figure out how to make this potential deal work.Seller wants to sell but not right away because they still use the house for some income. 

Candy - Is your current rental in your name or the name of an LLC?

If it was me...I'd check with zoning to find out how many dwelling units I could build, and I'd find what the requirements are for those units (type of house, height and setback restrictions, etc.).Then I'd find out what local builders think the cost to construct would be - just get a cost estimate per square foot for 2 or 3 different levels of finish.

@Jonathan Chan Here is a list of allowable assets for SDIRA investing. 

my SS deal is one of my participation deals were I provide the capital to the operator via a debt instrument then take a participation as part of the note agreement. 

Jaedon, that’s a question I’ve seen stir up a lot of debate, especially these days when the cost of capital and property prices can feel like they’re arm-wrestling over who goes higher.

The November 2024 report from the Austin Board of REALTORS® shows stable housing prices in the Austin metro as we approach end of year.

I recommend you include some of your key qualification criteria in the advertisement.

So if you want to live off the grid in the middle of the desert and have a parachute to get there, not a bad deal in some cases.