Multi vs Single-Family House Hacking in Vegas

[Raymond Wu]

Hello everyone,

First post on Bigger Pockets! I am a young entrepreneur looking to buy my first property. Vegas stood out to me because of its exciting culture and seemingly favorable numbers for house hacking in B to C grade 4plexes. I would love to hear your thoughts on this area of real estate!

I have a good grasp of general real estate concepts from finishing my real estate salesperson courses and helping my parents with the entire process of their last home purchase from finding a deal to closing.  From what I have read so far on Bigger Pockets, my understanding of Vegas Multifamily is that:

1. The supply of 4plexes newer than 1980 is low

2. D-Class multifamily should be avoided

3. Targeting the $1000-$1300 renter pool is ideal to minimize vacancies and repair costs

4. You need to be picky with the neighborhood you invest in (Summerlin South, Spring Valley, UNLV stand out). 

Some have suggested house hacking SFH instead to avoid these complications but I can't seem to find information on how easily single rooms in SFH in Vegas rent out, at what prices, etc. So, what's your take on MFH vs SFH house hacking in Vegas? Is there a demand for single rooms in SFH? Any concerns to be aware of with Vegas SFH vs MFH?

For context, I'm looking in the 700k range with an FHA loan for 4plexes and am willing to put in the time/effort to manage the properties myself. It will be owner occupied.