VEGAS BABY I moved here last year because of economics, I knew it would be a good move and it's surpassed all my expectations. 

I'm looking for a local agent with a keen sense of what rehab is needed in the area to attract buyers, while keeping it economical. 

I've seen foreign investors put money in deals that I wouldn't because their economic model was way different... they wanted something above a 50% loss for their investment.

Peter if you go new subdivision pay attention to the size and solvency of the builder.The small builders that do one off homes or small to mid size cluster subdivisions those are the ones that usually can be in big trouble if an economic shift happens.Look at new build permits coming online for the area and the price range you are looking at.The big builders tend to be more experienced and can still finish out  projects with down turn so you do not get left with a pipe farm development where some homes and some empty dirt parcels.Nothing is foolproof but this can help.

I also think with an economic downturn on the horizon, it might make sense to get into property management or flipping once we're near the bottom of that downturn in a year or two. 

A lot of times vacant properties are there for a reason - economic decline, shifting demographics and changing preferences.

All that with at least 10% economic vacancy.On the expense side, you need to go line by line and underwrite every expense category.

Here's a totally different idea and I don't know the economics of it, but look into it. 

I've been quite happy both with the neighborhood and the economics of the purchase/rental revenue.

They’re economical and creative and finished products are nice.