UPDATED STRATEGYBased on input thus far, here is my updated strategy:Use cash and a construction loan (if needed) to build and rent a 4th conventional unitRefi at conventional rates (original mortgage + construction loan + up to $900K cash out for a 4-plex)Build and rent 2 ADUs using cash outBuild and rent basement ADU with HELOC, construction loan, or cash outStart an ADU building business (there are at least 1,000 homeowners like me in Berkeley - I will meet each one) BRRRR small properties or syndications to cut my teeth with any remaining cash outConsider whether selling or exchanging makes sense once all rents are seasonedUse accumulated cash flow to buy smaller properties or syndications to establish teams in key citiesKeep my eyes peeled for jumbo cash out loans to enable much larger RE investments down the roadShield all RE investments from liability stemming from potential catastrophic losses to highly leveraged triplex in CaliforniaLastly, it will take a while but I intend to report back with successes and lessons learned as I move down my bucket list.  

Has anyone used Krylon Specialty Tub & Tile Ultra Repair Finish 2 Part Epoxy Enamel?

Any statement by any of them without any teeth is just chest pounding.

If you have the equity you say you do, you are losing money by the minute the longer you keep this property.Let's look at the numbers:1 - I'll give you an even $100/month in CF, so that means you have $1200/year (my teeth hurt saying that) in CF...as long as all goes perfect.2 - 45% equity means nothing. 

It might be helpful to narrow down your preferred areas of the North Shore, which runs from Mokuleia to Laie.Lots of people expected prices to tank after August 2019 when the City's law against illegal STRs was given more teeth.  

It will be enough to cut your teeth on and get some property management experience while having a huge expense eliminated.

For the cost of a meeting with an attorney you will at least be able to find out if you have any recourse and get a letter sent to the HOA board with some teeth in it.

All parties present their case and paperwork to which the board would rule and indeed DOES have teeth, that is, if the losing party ever wishes to practice licensed real estate again.

He is thrilled and thinks he is getting a phenomenal deal since the neighborhood is in gentrification he feels he wants to stay for a few yearsAlso you have to understand also that the kitchens and baths and living spaces are way above grade for the area water fall faucets, laminate flooring, deep sinksglass back splashes tiled floors in bathrooms rain shower heads washer dryer hook ups and the rent is ultimately on par or slightly less than the neighborhood so I feel I have the right to be selective(that is my arrogance talking) so to address that as far as my process seeming arrogantI have been accused of being arrogant before so I wont be mad anyone for saying that.but I am genuinely a nice caring person who will bend over backwards for my tenantsso i may be a little arrogant but I will jump through hoops for them just like I am expecting them to jump through a few hoopsI will say I am humbled by all of the solidarity against my plan so I wil re think it I have much to learn and this is my first venture into this game I am doing it solely on instinct and my intuition so thanks for all of your feedback everyone I am positive it all came from a place of love and caringJust a side note I am so laid back and easy going that sometimes people tend to take advantage of my kindness so part of what I do is make sure the people who I have to interact with have some integrity and moral character so that I dont have to be a bad guy when they stop paying their rent because they somehow think they can get away with anything and they push the envelope until I have to show my teeth

Since you are new and looking to learn,I would advise that you invest locally to cut your teeth before making out of state/area investments.