I learned the hard way how to shut off water and how to winterize.

I once rented a 5bed/3bath in two days, just a week before Christmas when the ground was covered with snow and ice.Sitting vacant in the winter increases the risk of frozen pipes or other expensive problems.

We like the short-term rental idea because we could stay at the property ourselves when we want - summer break, spring/winter breaks, etc.Our budget will be right around $1M or less ideally, and we would like a short distance to the ocean.How likely is it that we could find a property as described above and have it cover or come close to covering the mortgage? 

Sounds fun. 

Hey @Pat Aboukhaled I was a fun night!

Not fun, expensive lesson, but "woo hoo" you got a subto.Who trained you? 

Be prepared for Vegas’ unpredictable winter weather!

We'll lose money for 75-90 days but the new rent is market so some will stay and not forcing people that can't afford it to move in the middle of a very cold winter I think buys a tiny bit of good will and is the decent thing to do.

We manage between 80 and 100 listings it varies winter to summer but the processing of manually Remitting and paying out the property taxes takes much longer than 10 min.

You know much more about Vegas than I do, but winters are colder here and summers are cooler as well.