If you buy a property with the intention to rehab and refinance (BRRRR) to pull your cash out, you'll need to wait 12 months to use the appraised value with a conventional loan.

You will likely be negative cash flow unless you can increase revenue somehow. 

In those instances you can purchase the new property in 'cash' position and do not have to get an additional mortgage. 

I don't track the STR market closely on Big Island, but I have had clients look on that island and think you should find something there that cash flows pretty well. 

That is a big deal as cash flow is king.

My hope is to begin the investing journey with using as much as our own cash as possible.

Provides good support, doesn't usually bother me unless it comes to expenses large expenses or rent adjustment.The reason I am thinking of getting out of being a real estate investor is due to the stress and constant little expenses that are adding up. 

Other ways (off the top of my head):- Dedicated Revenue Manager on top of dynamic pricing software- 24/7 guest support- Vendor discounts (i.e. roof replacements, AC repairs, etc)As a new PM I think it is important to highlight where you add value instead of battling on price. 

More importantly, with the rate and lending environments of the past two years, having mortgage insight, access and resources has supported or improved the invest-ability for the majority of my real estate clients.

Partner would bring $500K cash and thus own 50%.1.