Without including capital gains ... currently I’ve had it as an air bnb bringing in roughly 2k a month . 

This property is from the 20s so probably looking at asbestos and lead-based paint, removing the boiler and radiator, adding central heat and air, as well as some excavation work where an in-ground pool was taken out but not filled in.Any advice or recommendations would be greatly appreciated.

So, we had an electrician come over and to our surprise, due to a dedicated circuit that was installed for the air conditioner unit (needs repaired, but circuit is fine), the process of wiring/installing electric baseboard heaters is fairly cheap and easy to do.Having said that, I am racking my brain for possible pros and cons of adding these heat sources and being able to call these "bedrooms".

I install central Air and Heat in beautiful properties, so I'm currently working as an real estate investor part time.

Plus a room in the basement i planned on making into a air bnb.

I am up in the air about renting it or selling it outright and using the funds to buy a few properties, including the ski resort condo with loans.

(took a few tries to spell that right)  I have always plowed my profits back into my business, but my business exploding is more like little puffs of air every other year or two hehe. 

I suspect Oahu to be a more difficult market to succeed in due to the sheer number of air bnb and hotels by comparison.

For years, spec developer Niami has teased “The One” — a 100,000-square-foot mega-mansion in Bel-Air that he hoped to sell for $500 million.

So attempting to hit 20% IRR on such deals at present, is most likely hot air.