For those interested in the Honolulu market and/or more generally locations with significant supply constraints, here is a recent story from Bloomberg.Bloomberg notes that property values (condo prices) have almost tripled since 2000 to an all-time high. 

when the business doesn't work out, people lose their home, creating supply for us flippers.  

#askBP We buy a lot of our supplies at Lowes & Home Depot and receive the 5% off and some bonus coupons, but it seems like there must be a better place to buy supplies. 

No difference from our other out-of-state PMs, except we arrange for the workers and supplies.  

It's in pretty good condition for the area.I've never done a flip on my own, only wholesale deals or flips with other investors who supplied all the funds.  

Wells can get expensive so if you can make the spring work and if it is a common water supply method for the area then it can be fine.

Not a whole lot of builders there, law of supply and demand.

That's a $2,400 commission.  40% goes to the brokerage to cover overhead, staff, office lease, advertising, supplies, licensing fees, e&o, etc.  

However, current tenants smoke pot pretty consistently.

There are over 40 Different ancillary income streams in the Self-Storage Industry - Truck Rental, Selling locks, boxes, and moving supplies, lighting, shelving, records storage, pack n ship, ebay.....