Las Vegas buy and hold strategy?

[Jim Owens]

I live in Las Vegas and I am new to investing. My strategy was to buy properties that rent with positive cashflow. Appreciation is a plus but as long as the properties rent consistently if the market goes up or down I should be ok. 

I've been thinking of going the fourplex route because of the higher cashflow and multiple units under one roof. My concern here is most fourplexs in Las Vegas are not in the greatest neighborhood.  I'm worried they might not be the best tenants and expenses and vacancies will be higher because of this. 

I've stayed away from SFR because the average house is 300-350k and they dont bring in close to the same rents as a similar prices fourplex.

I've pondered the condo route too because they are cheap and it looks like the rents to purchase price are closer to the multifamily units. The HOA eats up a huge chunk of the cashflow on these but the hoa also covers a lot of the typical expense.

What do you find is working best for you? What's typical ccr for your strategy?