No heat/air, no water, flood/major leaking.

However, you should think twice about using those resources for major renovations.Use the forums here on BP to ask for recommendations in the markets you're interested in, both realtors and contractors.  

Yeah - the low end of that was with a local co-op bank, high with one of the majors. 

They even went so far as reducing the price 60K and selling it at 200K even and it has no major issues.

I want to know how landlords would few a foreclosure versus a short sale, versus a credit card default or major settlement on several cards.  

You'll also find that even major cities in Texas have predatory dealing ordinances with real estate, it's also addressed at the state level. 

Many banks will use a portion of your rental income as a way to qualify you if that is where you derive the majority of your income. 

If it's one of the majors like State Farm etc -- I'm thinking they'd offer a rider or endorsement or possibly a different type of policy to cover the property while it's vacant -- are you rehabbing?  

Also factoring in that majority of the tourist come to Oahu not Big Island I think you might have to lower your occupancy rating.  

The majority of contractors probably do residential work straight for the homeowner , ( much better $ ) .