This can not be achieved with the first two coloured streets (brown and light blue). As the rent is too low, even with a hotel.
I first went for this achievement:
by buying 4 houses on each street of the first 3 colors (brown, light blue & pink). No hotels yet! This will max out the houses of the bank and give you the "Out of Stock" achievement.
Then I sold all the houses (LB) on the brown and light blue streets and bought houses & hotels on all pink and orange streets. Orange only needs 4 houses to gain more than M700.
Then just play and wait for someone to get on these streets. Should come rather quick with this setup.
You select streets that you wan't to build/sell houses on with left & right on left-stick or D-pad. You can only buy/sell houses when it's your turn and AFTER you've rolled the dice.