Wow, small world eh, yeah Ilderton is literally just a 10 minute drive from me!

While you can't necessarily force appreciation by driving up NOI, you can often find better deals as sellers are less sophisticated than commercial sellers and you are eligible for residential financing which has owner occupant options of low down payment and interest rate.

This will drive more traffic, as there are many self-employed or people wanting to buy but held back by previous foreclosure/BK timelimites, divorce, etc hampering them from getting traditional financing, and if you're wanting to rent it again quickly, and sell eventually, this would be a good strategy for maximizing your cashflow during the turn.

An abandoned beat up property surrounded by $600k homes likely won't sell below $400k. 

don't overthink.education is never a bad thing but you want to make sure you don't start driving yourself crazy trying to analyze cap rates and other "rules". 

I also fell in love with the neighborhood, and it was a relatively easy drive from my home.

I also fell in love with the neighborhood, and it was a relatively easy drive from my home.

That said, I am always looking in Honolulu and surrounding markets for deals.I will be in town this coming week April 27th to May 5th.

My strategy would be to let it cash flow initially for the next couple of years, and then if the area keeps developing, determine if its worth making substantial improvements to raise the rents significantly.There are definitely some risks with this property: many tenants are on short term leases; and there is the risk that the immediate surrounding area does not continue developing as it has over the past couple of years. 

However, no dye showed up in the surrounding areas.