I'm assuming you're referring to residential (SF and MF) properties that are vacant, is that correct?

@Sarah Brown That is not correct.

Aha yeah I dont really trust flippers to do the repairs correctly - Even with my own flip I was tempted to cheap out on it but you always pay for it in the end!

Is any of the above, correct?

Is your $2k per month on $600k equity correct?  

So saying people can’t do the rehab or don’t have the money is not entirely correct.

the market is unforgiving right now, and if you buy a random property by looking on Zillow and turn it over to people you don't know to manage, you'll lose money.with respect to your specific question, if the property is safe, clean, and priced correctly, it will rent. but that doesn't mean you'll make money on it. 

I would confirm the other four owners and would not buy there is they were all the same family, it will just be miserable most likely trying to deal with 4 against 1 (unless they all hate each other).Your second concern is valid and correct.

It does feel like there is likely a major market correction coming, but due to limited inventory of vacation-rentable units in Maui I feel like I should be somewhat more protected from the effects of said recession.

However, I know that I do not want all my income to be reliant on my day job and live to watch my retirement account grow.I am probably doing better than a lot of people my age but am eager to take the correct steps to build a real estate portfolio.