What I can say is that flat lots are in demand by the builders so those neighborhoods are likely to have the shortest construction cycle, comparatively speaking.

I just wrote this article a couple weeks ago...maybe it gives you some things to consider along the way-https://www.biggerpockets.com/renewsblog/considera...More specifically on the numbers, calculate what you'd be profiting (don't forget to subtract mortgage interest and property taxes and all that) and compare that to what you would pay in rent. 

It provides the ability to use data from broker offering memorandums by comparing actual to pro forma income and expenses.

For now, while I rebuild not only my finances but also my life, it's the perfect place for me, and anything comparable would cost far more to rent and I have no intention of renting when I work from home and love my location already. 

Also, this wasn’t part of your question, but how do current rents compare to market rates?

(Rule of thumb suggests that falling below 1% gross return per month makes it increasingly hard to cash flow positively on average, when borrowing to the max).A similar question: Are you getting a bargain* (compared to sold comps)?

This BP analyzer is pretty superficial...If you are wondering if you should pull the trigger, you'd need to have a set investment criteria, and then we'd have to ask if the deal in question meets those criteria...this is a residential property valued by comparable sales...CAP is irrelevant entirely...Cash-on-cash merely puts your property on the same level playing field as other similar properties for the first year...it doesn't truly dictate a good deal.

Or even better start flying to neighbor islands set up boots on the ground / networks.

You should read the lease contract, see how much the monthly payments are compared to what the electricity bills were before solar at the property, look for a fixture filing or lien in the contract, and go from there.

As a rental unit it is pretty bad to invest in compared to apartments, the competition, and financing.