I will be investing part time and most likely will be looking to invest in the mainland its expensive over here in Hawaii.

I was going for least expensive. 

Through the forums, videos and education tools on the site I have been able to determine what the expenses are.

Spend it, and it is the worst.2 - HML - One time use, and the most expensive, but sometimes necessary as it may be the REI's only option for funding.3 - HELOC, LOC, BLOC, etc... - They all fall into the "middle" option.  

Lot rents at $250 and running at a 40% expense ratio produces only $16k/year net  Is it worth it for the massive amount of work this place will require?

Otherwise I don't know all that much about skip tracing, but know that's it's a little more expensive per search because you're hiring a professional to track someone down.

With median values rising at over 10% I think we are going to continue to see a fairly steady inflow of sellers and buyers for another 12 months tops and then a radical shift into rentals.

@Ali AllenMost likely it is a structural issue and if it's on a crawl space depending on what needs to be done it could be very expensive.

@Waylon GatesThere are many reasons the Solo 401k is the preferred structure.Contributions limits are roughly 10x higher, there is no custodial requirement for the 401k, you can take participant loans, you don't need the additional expense and administration of an LLC to have checkbook control, there is a built in-Roth component, a spouse can participate, there are additional tax benefits, there is generally greater privacy, and the plans are often quicker to setup and cost less money over time especially compared to most IRA LLCs.

keep in mind, hml is expensive.