Just sold - buy or wait?

[Kristian L.]

Hi. 
I just sold a 2br condo on 89115 and am looking for something else, maybe in a better ares, to do a 1031. But I can't seem to find any properties that is worth the price. 
I see 2-3 br in better areas but they are 200K - 250K for 1000 sqft - 1200 sqft. For that to work, I need $1.4 - $1.5 per sqft in rent.
e.g. https://www.redfin.com/NV/Las-... would need rent for 1700 or https://www.redfin.com/NV/Las-... for 1900 - not sure that is possible.

So I am thinking I will take my profit and pay off another condo. I will have to pay some taxes, but we are talking around 10K in taxes. 

Anyone finding any properties worth buying for rental? I am aiming for 12% - 15% cash on cash. That is what I have on the condo I am selling.