What your state’s laws are I have no idea. 

These are some of the ways the clients could be affected by property managers who are not prepared: Extended VacanciesInadequate marketing strategies and tenant screening processes can result in prolonged vacancy periods, translating into substantial lost rental income.High tenant turnover due to poor resident relations further exacerbates vacancy losses.Inadequate Maintenance and RepairsNeglecting preventive maintenance and delaying necessary repairs can lead to accelerated property deterioration and higher long-term repair costs.This can also negatively impact tenant satisfaction, contributing to higher turnover rates.Legal and Compliance IssuesLack of knowledge or disregard for landlord-tenant laws and regulations can expose investors to costly legal disputes and penalties.Failure to properly handle security deposits, evictions, or fair housing practices can result in significant financial liabilities.Ineffective Financial ManagementInaccurate budgeting, expense tracking, and financial reporting can lead to uninformed decision-making and missed opportunities for cost savings.Failure to optimize tax strategies and leverage available deductions can further reduce net returns.Diminished Property ValueInadequate maintenance, high vacancy rates, and poor tenant screening can negatively impact a property’s perceived value and appreciation potential.This can significantly affect the long-term return on investment when it comes time to sell the asset.While a 10% management fee may seem reasonable for a well-performing property manager, the cumulative impact of mismanagement can quickly escalate the effective cost to investors, potentially outweighing any perceived savings on the management fee itself.

That said, I can tell you that sometimes a standard form provided by an association or even the California Bar may not meet legal requirements for the local jurisdiction that your property is located in.

If your looking to learn the trade and want to find a mentor to guide you, the I would suggest visiting one of the local REI clubs in Spokane or Couer D'Alene.

If you really want to invest in Hawaii, I would recommend partnering with a VERY EXPERIENCED local investor.

Online it says there is currently no rent cap, but there is a new law being proposed that caps it at 10% and for new tenants, only 15% above what the previous tenant was paying.

I will be moving out of the country for work and won't be back until 2026 so we only have a "local" market for the immediate future and then we are locked in to "out of state" investing. 

Call agents locally that are doing 25-30+ deals a year and also property managers..

Presumably you can also protect against this with the aforementioned neighborhood growth trends.A lot of money has been spent and lost trying to use the best information out there to determine local buying decisions at the property level.

I started a local investors group.