Expect to shell out about $200 per month for you E&O insurance, MLS access and Board of Realtors memberships.I personally have no desire being a retail agent.  

I'd say flipping is more tax punitive than offering tax advantages, but at the end of the day what you net is what's most important, and you can earn sizable net gains flipping as well.

Even worse, they can complicate your tax returns to the point where you owe Uncle Sam for money you never earned.

Many, but not ALL are only focused on the commissions he/ she will earn and not focused, on your best interests.

My company is great for investors as we give them 100% of what they earn. 

The necessary steps are: 1. a definite purpose backed by burning desire for its fulfillment, 2. a definite plan, expressed in continuous action, 3. a mind closed tightly against all negative and discouraging influences, including negative suggestions of relatives, friends, and acquaintances, and 4. a friendly alliance with one or more persons who will encourage one to follow through with both plan and purpose."

I can more than sympathize with the desire to save that $10k selling costs if it makes sense, but I would just urge you to consider whether you are being short-sighted by doing so.  

The whole reason for the negative rates is a weak middle class with diminished earning/spending power, with no more Fed firepower to help out.

Hawaii is perfect for vacation rentals and Airbnb which earn way more than a standard apartment lease.

That should include your desired profit.