Statrting Out with 15K - California and Nevada

[Assaf P.]

Hi everybody, This is my very first post at BiggerPockets after I was get exposed to this amazing site and forums from one of the books ive read and im thankful for that!

I have no experience on RE or REI so far, although ive read about the REI for several years and checking the market and keep learning every day.

My situation is this- I live right now in LA, I have 15k on savings account. Im interested in Buy & Hold Strategy. The area that im looking onto is Las Vegas and LA outskirts.

About the mortgage- I have very low tax returns as l used to live out of state in the last couple of years. is that something that I can move on with or is it a deal breaker by the landlords?

are the landlords are flexible with the requirements? or the 2 years tax returns and the monthly paycheck are a most?

I have a good credit score.

What should I do next? Wait until I establish my tax returns? or go on from that point?

will you recommend investing in Las Vegas or LA outskirts? Should I buy a townhouse or a small condo apartment? what are the risks when investing in small condo apartment? what should l take into consideration when investing in small condo apartment?

Thought about buying a small condo here in LA as a start and instead of paying my rent-Just pay off my mortgage.

Id like to hear from you guys and learn from your opinions.

If someone is accidentally live in LA and feel like share his great REI knowledge, Ill be more then happy!

Thanks and have a great weekend!