Honolulu City council passed the bill but a federal judge quickly issued a temporary injunction and later a permanent injunction stating that the bill was unconstitutional.  

Lets say the investor didn't use credit or anything related to credit metrics to buy the property (maybe own cash, OPM or HL, by the time the "refinance" part kicks is, what happens if the owner has credit issues and the financial institution won't proceed?

Get a new home inspection done to identify any serious issues.

What steps do I need to take or issues I should look out for if I end up accepting a tenant and their voucher?

Timing or not, I wouldn't sign a lease in my personal name, you have little to no protection in the event there is a liability issue - ie grandma slips on the sidewalk - under LLC they have to sue the LLC if that's where property is owned and the lease is drawn. if it's owned personally they can sue you and everything you you have. bottom line is I say delay and get an LLC but that's just me

It's important to ensure compliance with local tax laws and regulations to avoid any potential issues.

When they are late, I follow strict protocol, I issue a late notice immediately, then after 5 days a 10 day pay or quit.

That’s an issue requiring legal research of local law for sure. 

You must analyze all the data (size of properties, # of properties of each size, location of best producers, regulations, # building permits for that size issued in the last year)3.

I have scoured this site for advice but nothing specific to my issues popped up.