Some quick searches seem to indicate that the market in Oahu is somewhat unique (rules limiting short term rentals, lots of leaseholds, etc.).  

I am wondering what an average cash on cash would be and if anyone is knowledgeable in this niche market.

@Richard Escano, Student rentals are a good niche.

Everyone's personal preference is unique but as Thomas S. mentioned, I would never pay off a mortgage.  

In the beginning, do not do anything unique.  

So, with a $1500 total marketing budget, I would target either a niche list (inheritance, probate) or non owner occupied with equity list.

You form relationships with experienced people by learning your niche, your market, and mastering the vocabulary related to your investments of choice.

So I've got a unique situation.

Hey BP, I am Juan Nunez currently living in Orange County NY.Back in 2007, my wife and I try getting into the REI, we started out forming a LLC, my wife got her Real Estate license but we didn't follow through with the investing. when I look back I would say it was because a lack of knowledge, fear and no direction.We are looking to find our niche in buy and hold, property management, looking forward to being a productive citizen in this BP community.Juan.

I understand and agree with the theory of picking a niche and mastering it so I'm curious which types of investments someone who has been around the block might think are best for me.To help facilitate this let me provide some background on myself and my current situation.