It's disappointing that the law is hard to comply with (even for owner-occupants—what if it snows while you're at work, or what if you're too old or disabled to shovel?!).

You might want to rethink requiring all occupants to be on the rental agreement/lease.I give the applicant a choice of whether to have them on the agreement or as an authorized occupant.  

You're looking at roughly $4500 in annual taxes for every $70k in purchase price for non-owner occupant.

Currently trying to coral several distressed owners who have properties with a lot of deferred maintenance and below market occupancy in markets that we like.

I also didn't change the locks on one and put about $500 worth of fixtures in the house (still in the box) that were gone the next day, but the previous occupant had a drug habit, I bought the house from his dad. 

Find the right property at the right price and with most of Hawaii's great occupancy rates, it will cash flow.  

Waikiki properties are more expensive but you can charge more per night and the occupancy rate is higher so you get a better return on your investment strictly from a $ standpoint.

It’s never a confidence-building experience for an investor/owner to get a call about a plumbing leak at three o’clock in the morning. 4) Low Occupancy Rates and Limited Renewals When you’re reviewing your rent roll and monthly tenant reports, remember to review renewal numbers.

One more question;During the time of the repairs are being done and home is not available for occupancy, is the payment of the mortgage begin at time of occupancy or during renovation?

Sometimes i'll sell my note because there are things that I know about the asset or the loan that cause me concern like, there is a toxic DDT landfill on the property or, the 4,000 square foot addition to the property wasn't permitted or, there is no certificate of occupancy or, there was a meth lab in the home or, there is a HUGE senior lien in front of me or, there is so much deferred maintenance that I couldn't ever expect to get my money back or, the well is dry and the cost of $20,000 to drill a new well is prohibitive or, there is an incurable defect, or there are huge property taxes or any number of a million other reasons why I'm willing to sell my note and get out of it by passing the nightmare on to another investor.Moral of the story is, unless you are buying in bulk and have the relationships and track record to support it and unless you have the capital and time and stomach to roll with the punches, a single note purchase might be biting off more than you can chew.