Now your housing costs are $4700, but you are getting $2900 in rent.

I am looking to invest out-of-state as a long-term, buy and hold investor in the lower cost, higher cash-flowing markets of the midwest and southeastern US.

Costs to do anything are high in Hawaii so I know what you see here is not normal everywhere. 

.: Everything you've spent so far is a sunk cost.

Consider what the max amount is that you could pull out and what you could reinvest that cash out into such that you can earn an arbitrage on the cost of capital and the cash flow/ROI you'd get for investing the additional liquidity. 4.

Are there variables based on scope, cost, duration, etc?

On the other hand, your rent payment will be part of the investment property income, so the numbers may work.Example:A fourplex costs $500,000.

The biggest risks to me are: Capex costs: these can often be understood before you buy a property, but anything missed tends to be a major factor.  

You have to weigh the cost payments of each and see, which is better or lower for you!

The hiring process costs the employer a lot of money and if you don't think you will be a good fit, it is going to be an uphill battle for both you and your employer.