Property is approximately 3 acres (2 lots combined) in a small decent neighborhood consisting of 130k-175k dollar homes.

Did you get a combined mortgage & HELOC?

For example, I am not looking for current income, I am looking to aggressively acquire property in combination with aggressively paying them off. 

Real estate rehab might be my favorite aspect of real estate for me since it’s a grand combination of what I enjoy doing, construction, reconstruction rather and being a realtor.

To give you some background information, my girlfriend (25) and I (23) currently live in Honolulu where we make around 90-100k a year combined.

Do I pull that out and combine it with the $130k to buy multiple properties? 

At first I was living there and my tenant was covering about 85% of the monthly costs.Now both units rent for a combined 2310.

Right on @Ashish Acharya,  And @Nicole Driscoll, if I"m understanding your question correctly you're looking at a combination of purchasing less than what you sell and taking some cash boot out. 

I'd consider:15% combined for repairs and CapEx10% management.

I usually figure 15% combined with Repairs.What about water/sewer?