@Bailey RentzStessa is an excellent platform for tracking income and expenses for investors; it is user-friendly.

Both generate passive income streams without you having to clock in at a 9-to-5.🏗️ Building Equity While Others PayWhen your tenant pays rent, they're helping you pay down your mortgage - building your equity.

This could help decide if the income is enough.  

I would rather invest in safe markets that produce a good return, then I can use that income to pay for a vacation anywhere in the world.I'm very pessimistic about the STR market in Hawaii.

One thing to be aware of is the FHA multifamily self-sufficiency calculation which determines if a property can generate enough rental income to cover its mortgage payments.

You didn't buy the house to preserve it, but for it to produce income.

I am 80 years old and rely on investments for retirement income.

Your ability to qualify depends on income, credit, and lender requirements, but leveraging your equity makes your request more feasible.

Lesson: Keep a nice house and inspect before the inspector.Inspections then occur annually and you don't get paid if your property fails until you pass again. 

@Christopher HeidrichRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?