They are out to maximize their profits, so they buy cheap properties, do as little rehab possible and then try to sell for overmarket value if they can.Unless you plan on taking advantage of your relative, you probably want to have a chat with them to figure out what would be a good investment for them - Cash-on-Cash, ROI, etc.This will help you narrow your search, acquisition cost, rehab budget, etc., so you deliver what they want.Now, if you work extra hard and find a way to squeeze more money out of the deal, you should benefit from your hard work. 

Do not cheap on on your paint.

Good ones get to stay cheap.

***Only exception is if an owner has plan & funds to reposition Class D to Class C or higher.https://www.biggerpockets.com/forums/776/topics/960183-what-they-dont-tell-you-about-cheap-rental-properties?

***Only exception is if an owner has plan & funds to reposition Class D to Class C or higher.https://www.biggerpockets.com/forums/776/topics/960183-what-they-dont-tell-you-about-cheap-rental-properties?

Biggest mistake I see out of state investors make here in Cleveland is overpaying for a property because they compared it to where they lived and thought there was no way they could lose since it was so cheap....You can still lose on a cheap deal folks.

If so that is DAMN cheap and I would be all over that to get it done.

Gurus push anything that helps them sell their products/services to newbies and they make it sound as easy and as cheap as possible to get them on the hook (which is when your credit card is charged).I'm not sure specifically why gurus (or if most do) push DF$, but I do know this: If you are going to start out and do any type of marketing, DF$ is a good thing to do, especially when starting out as the only cost is your gas/time, and wear and tear on the vehicle but you gain something you don't get with any other type of marketing including SEO of your website: Experience and knowledge of your local market.

I know land is not cheap in Honolulu to make it work but maybe others tried?

I'm glad I didn't take the cheap route (a repair person to sand and re-paint cabinets or reface the cabinets and install new countertops).