If you send every dollar you make to pay your mortgage, put it under your mattress in cash, or lose all your income at the casino, that income is still taxable. 

@Matt Jones That's good to hear, I'm thrilled to hear there is still active investors in the area!

I just used Hard Money Mike for a BRRRR deal and they were easy to work with, I haven't been thrilled with the traditional lenders or the CPA I've used so far so I'll refrain from referring anyone there.

Vegas is driven by CROWDS, and people will not be jumping back to big crowded environments so quickly and I can't picture people at nightclubs and pool parties flirting with masks on LOL Gambling is driven by excess capital, it's hard to say how that will be effected here but with many locals out of work the casinos will be reliant on tourism which I think is going to be a while recovering. 

I would be thrilled if there are general contractors that know some areas that I could speak with, so I can  better understand the markets.  

@India Brown In these days of coronavirus I imagine a landlord would be thrilled to buy a cashflowing property.

Is Las Vegas' market overvalued today if casino/entertainment venues aren't going to open or resume traffic for a year? 

IMHO, they are not going to want to crowd into Casino hotels or highway Motels - they're looking for a family home vacation experience. 

I'm not thrilled about moving and like my current home, but I am willing to make the move if it seems like the smartest thing to do financially.

They also might not be thrilled with living above someone.