What other factors should I be considering?

However, when you factor in the HELOC, we have a negative / break-even cash flow (HELOC payments are about 25% of the revenue from both).

That's a factor to consider if you have children and want them to be in a good school district.  

@Nik Farooqui You are correct in that GC licensing is never a requirement but it is more of a "silent factor" that can make a lender more comfortable lending hard money and thus the approval and loan process easier.

Where's the main water shutoff valve?

Properties within walking distance of the Strip will likely attract more guests since most visitors prefer the convenience of being close to the main attractions.

Again, not my main goal but it also doesn't seem wise to be short $600/mo. 3.

Again several factors at play but just providing information based on your criteria.

Financially my full-time job is our main income as a family.Job is demanding.

In order to qualify for the Section 121 exclusion, you must have used your home as your main home for a period of at least two years out of the last five years prior to its date of sale.