@Paul Nicklin We live in Mililani (central Oahu), and it’s a great spot with reasonable rent at around $2k for a 2 bedroom 2 bathroom condo, and it’s smack dab in the middle of the island.

1300 sq ft, 2 floors, 3 bedrooms 1 bathroom on each floor, built in the early 1900s.

We ended up doing a $62k renovation on the property to include a new roof, all new mechanical systems (including A/C compressor, hot water heater, furnace, sump pump), full kitchen and bathroom renos, all new flooring, paint, landscaping and deck.  

You can learn how to fix anything on Youtube:CleaningPaintingScreen repairSome appliance repair Blow insulation in atticLight fixturesOutlet or light switch replacement Flooring (tile or laminate)Kitchen / bath faucetBathroom vanity and sinkReplace sump pumpToiletSheet rock repair (harder only to make it look good)Install dish washerDoor replacementWindow replacementKitchen cabinetsWater heaterShower replacementRoof (I have not done this)Garage door (I have not done this)HVAC (I have not done this and you need to be licensed in most cities)

I'll try to post updates bi weekly; In the past week, the following has been done: --New roof installed just before closing--Light demo completed to reveal hardwood flooring throughout the home, gut kitchen, remove bathroom fixtures, remove trash throughout home and backyard.In the next two weeks we have new framing in kitchen to be done, start some electrical updates, get the half bath and basement back together (those are the easiest) then do drywall patch and painting and refinish floors. 

Yes, unless there is a shared bathroom you have to access through a bedroom.

Kitchen, creating a separate entrance, and reconfigure the bathroom.

I'v noticed that in the area we have been analyzing properties a finished basement doesn't seem to add much value in comparison to say an extra bathroom or bedroom above ground.  

Also you said you're pretty handy so if you find a place with an outdated kitchen/bathroom you could DIY most of it to renovate it cheaply and raise rents that way.

My current process is:- go to https://www.zillow.com/rental-manager/price-my-rental/ - go to https://houston.craigslist.org/d/apartments-housing-for-rent/search/apa Search for units that as closely as possible match:1) Location of the property2) Number of bedrooms and bathrooms of the unit I'm estimating the rent for3) Square footage4) Amenities such as air conditioning, parking, shared common spaces5) Condition of the unitThank you in advance for your help!