Yoder (east of Colorado Springs) still has 40 acre lots (without a structure) for under $100k...it's because you can't get the water rights for commercial farming or agriculture. 

Been reading a lot and it does seem like the numbers regarding cash flow for a single family home on Maui (right now) wouldn’t work too well.I understand and accept that passive income is for the people who’ve built a massive net and are at the top (but even then I think they have to work and make sure their system stays functioning)I really want to learn more about owning/operating vacation rentals, specifically in HI if possible and specifically the tax part of it (now with the shift of the 2018 tax laws).I’m going to dive through the forums and try find more books on the topic.

@Khang NguyenWhen you do maintenance/fix things - i.e. a broken cabinet door - or when you clean and paint during turnover, those activities are generally classified as expenses.When you add or renew things to the property such as fixtures (lights, plumbing); a new HVAC system; new roof, new flooring, etc.  

Can you test the waters first by trying to sell it now and plan B would be to flip?

I recently ran into a very similar issue, except it was tampons and it resulted in my basement flooding with poop water.... 

Statewide a 2016 report stated 5.9% Owner occupied:Income-expenses=NOI Guess2550-1970=580* ($193/door "profit")Fully Rented:3400-1970=1430* ($357/door "profit")I know that potential capex and water, sewer, etc may be high, but they are unknown right now.What am I missing?

Our lease says the tenants are responsible for water, sewer and trash.

Initially I was going to kick them out, but after talking to them, I realized they didn’t pay because the previous owners did nothing even though there was no hot water.

And those 3 rental properties , one is doing fine , the second one the septic failed and you need a advanced system for $20K and the last rental the tenants didnt pay and you have to evict and repair $ 10k of damage ,Now , you were saying something about paying yourself ?  

Now I'm looking for a better, more accountable and recordable system for recording maintenance requests, issues, and expenses, and noticed that Cozy had added these options.