After a Valentines purchase as well as a couple others, I was able to convince him this was a good move.

Ran into many problems with contractors along the way, paid for some material twice as well as some projects to be redone.

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

@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.

Different areas have different metrics that decide how well they are doing.

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

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.

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