Off-market deals are key if you go this route, so networking is huge.Out-of-state investing is another option people love, especially in markets like PA (Philly, Scranton) or even down south where prices are lower, and the landlord-tenant laws are more forgiving.

Single family homes are exempt from rent control everywhere in the state.  

It is an old house but has been completely gutted and rennovated in a Midwest state with a flatline population growth.

Hawaiian real estate law differs from other western states significantly, mostly due to its monarchal heritage and the Bishop Trust influence.The basics are the same as would be in California; determine the condition of title ownership (individual(s), estate (including conservatorship, if appropriate) OR fiduciary acting for trust.Use a qualified private money equity lender to make a loan sufficient to buy out the cash-only beneficiaryThe legal community in HI and Big Island in particular is small.

I'm considering several states.  

I used to do BRRRR strategy here but now only do flips and help with others' house hacking or flipping.I had to move my BRRRR strategy side of the business to Tyler Texas.Are you still investing locally or only out of state?

Looking at the numbers today (keep me honest), I believe you can still find deals with 5-6% yield (current rental state) and hope that it goes up.

With a budget of $300K-$400K, you could potentially find single-family homes or small multi-units in those areas.I'd recommend researching rental demand near universities like Duke or NC State or even checking out neighborhoods with strong job growth near tech hubs.

I did sell one of my personal residences on LO and that one did payoff.. but that was an executive that got transferred from his home state to our area wanted a nice home and they did convert within 9 months once their home sold and closed..

Quote from @Allen Berrebbi: Quote from @Dominic Mazzarella: I have personally owned and managed a multifamily property in Illinois and after selling it I said I would never invest in that state again.