I've also heard of requirements to own for at least one year before you can use the home as a STR.Hawaii is a leftist state that doesn't protect private property rights.

You may decide not to deliver a legal notice right away depending on the violation, but when you know you are dealing with a problem tenant, go straight to the legal notice requirements, and if the tenant still doesn't comply, evict. 

Quote from @Leeling Chew: It doesn't matter who pays the bills.

The law also doesn’t apply for abandon properties.

For a so-called Christian hosting a Christian Ministry and makes us get up at 6am on Sundays for his sermons, he sure doesn't practice what he preaches, but instead is a cover up for getting rich.

This doesn't give me too much to work with, and as a student, I still have 0 income :(.

Am I prepared to hold properties longer if market conditions change or if a flip doesn’t sell as quickly as anticipated?

Maybe look for a different type of tenant that doesn't leave every year or sell the place if it isn't meeting your other investment objectives.2) As PM's we always seek prior authorization for expensive turns or capital projects, even though the estimates given to our owner-clients are often ball-park numbers.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

The cons, if the borrower doesn't pay on time or completely welshes on it then there's that oportunity cost.