If your stuff is pretty straight forward (long term rental history, all on last 2 years tax returns, etc.)

If you do a straight subject to, they won't have any standing.That being said, a lease does give a tenant some rights, however the "equitable interest' I believe you are referring to will not give you much standing in court if the deal goes bad, no matter how much in repairs you did. 

Anyone who tells you otherwise is straight up lying to you, or just doesn’t own property there.#2 Everywhere else in LV is second fiddle.#3 Football team, Soccer team, Baseball team, etc...little overall impact.#4 Sub $300k properties in Summerlin are nearly gone.#5 Zero multifamily homes in areas really worth buying.

The only tests are more straight forward.

Sounds like you have your head on straight. 

Everything leading up to that is straight forward.  

For the most part the foreclosure process is straight forward, however let me ask first.... is the property your looking at currently in the foreclosure process?

If in theory this project is brand new with separate meters, intact plumbing, electrical boxes etc. still only 2 unit building, should the process be straight forward?

We have been talking about 2 options and want some input, we have no desire to reinvent the wheel. 1) Charge $100 extra a month for 5 months to get the deposit2) Charge $60 a month extra on the appartments and put it straight into maintiance accountAny experience with this is welcome as is other ideas.Please and Thank you

If you were to purchase a property as a straight up investment property, lenders would probably charge you 7-8% interest.