Sometimes though it is a response to a low interest rate enviorment, or higher demand. 

We plan to play a lot of this by ear as we don't know where we will end up as we learn. 

The reason the prices are high has to do with simple supply and demand.

Waikiki is an exceptional place for STR, as the demand has been soaring for alternative housing over the past few years.

High demand for rentals.

I'm not a single mother though, I will have help from the father (that info plays into my money expenditures).

I learned years ago that I cannot (or should say will not) play in this scenario.

you need at least 3 of them that are interested and able to close on properties in that area if you intend on wholesaling it. as for fixing and flipping, the neighborhood must be in demand in order for it to flip within a reasonable time frame. the neighborhood has to be very marketable. 

There's been many times when I've had to step outside to take calls so clients can't hear the kids playing ( or being noisy) in the background.

Rental demand & tenant quality are incredibly strong.