@Hector Lewis - The decision ultimately depends on your current cash reserves relative to your financial needs, as well as your willingness to reinvest for potential appreciation.

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

Largely, the appreciation in housing prices is coming from both new migrants and investors coming from the East (GTA) as well as international countries (predominately from the middle east).We are also seeing drastic increases in the rental rates which in turn are pushing investment property prices up as well.

As stated previous neither lender would want to take the second position as well. 

They made contact with me as well but I don't want to get sucked into a scam. 

In addition to the interest of the loan, you'd also be paying this as well. 

DealMachine and direct mail can work well, but consistency is key.

I also invest in other assets such as stocks, and private companies as well.

Well? 

This is a unique home and it actually has a full kitchen, 2 bed and 1 bath downstairs and I think it might be well suited as a very large vacation rental(entire home) or both floors being rented separately at some point in time.