If you end up under rehabbing the home and there are no buyers who want a home with those types of materials, you'll have to adjust and change the type of buyer you're looking to sell to which may mean lowering your price. 

Here's my thoughts on a max bid:Turnkey value (low estimate): $185,00070%: $130,000Assumed Reno: $20,000Back Taxes: $20,000Assumed Condo Fees: $10,000 (private info, can’t find)Estimated max bid of property: A) $80,000 Auction is in two weeks so I still have time to research or adjust the number.

Cash flow might be more slim than markets in different states, but it is a safe bet to assume you will be able to comfortably raise rents each year at a minimum of 5%. 

I'm not one to bet on it yet.

However if she insists on being on the deed, I wonder if giving her 7-8 thousand like a wholesaler and flipping it would be my best bet, or even giving her a 50/50 or 60/40 share of the (possible) 60K flip. 

And I bet when you see the P&Ls/Tax returns on this guys amazing business, it becomes less amazing.Don't waste your time, you're running a business here.....right?

So if a lender is offering you a portfolio/commercial style loan that will go up to 80%, make sure you are asking the right questions - what is the prepayment penalty, how long is the loan for, how often does the interest rate adjust.  

I’m betting now she bought the property herself. 

So, a say $40k net income MIGHT let you borrow $150k (assuming you have no other debts/loans which I'm guessing might be possible if you have $30k saved up).So, the co-signer route is your best bet, just remember it may not be theirs since you will be tying up their credit.Hope this makes sense. 

I know people do long distance STR, but A) I bet there are lots of restrictions against those in Hawaii condos, and B) long distance would not be my preferred way to start doing STR....not by a long shot.If you can't qualify, find out why you can't qualify.