I live in Las Vegas which is a mecca for tourism, but new STRs here are very difficult to secure.

Cash flow would be nice but I’m more about gaining equity.I thought Vegas might be a good bet.

If the price to replace is within budget I'd do it because you're putting out a newer/safer/more reliable product.2) Cost to replace the entire systems is tough to gauge without knowing the building size and style...

Hi - typically Mixed Use properties are going to require a traditional commercial real estate loan from a bank, small balance commercial private lender or for the larger ones a CMBS style loan.However, a newer "DSCR Loan" product for Mixed Use is making a comeback - which is a really great option for smaller properties/more beginner investors since it has all the same trappings as a residential DSCR Loan (30-year fixed, easy qualification, straightforward process) for a property with commercial units.Generally going to be limited to 8 units max and has to be primarily residential in every way (majority residential by units, square footage and rents) but if it fits all that, its a great option

The "old way" (fundamentals) never go out of style.

Then there is the issue of styles and types.One can ask the same question of a several successful investors and get a different answer from each, all good answers.

If we were to see major changes in zoning and redevelopment we could see some LA style gentrification of neighborhoods.

I have a million classified posts showing the style we build. you'll never get the numbers at that rate. your numbers are way off and way too low. work with an experienced general contractor who knows this stuff. 

It really comes down to what type of life style you want to live, how soon can you start investing, and how long you are willing to wait.

It’s near entertainment districts and good schools, making it attractive for families.33134 (Coral Gables) - This zip code includes Coral Gables, known for its Mediterranean-style homes and upscale living.