Las Vegas Rental Investment Condo- Newbie

[Jason Pan]

Hi Everyone, Im new to this. I'm looking to buy a first time investment Condo in Las Vegas. Im an amateur, Does this make sense as a decent deal? 115k 20% down on 30yr fixed @ 4.875%.

$487 month Mortgage +40 insurance +98 Property Tax +195 HOA = $820. Zillow says the rent is approx $950. Seems like I would be ahead $70 a month which I can save for repairs or vacancy.

Is this a bad time to buy in Vegas? Alexander Felice you said Rental market in Vegas is terrible, why? Is Vacancy rate high?

What is a good area in Vegas to consider? Summerlin? Spring Valley? Is it better to buy a 1bedroom 1 bath or 2bed 2 bath to rent out? Which rents faster? Whats the typical vacancy time between finding a tenant?