Part of the reason why the rehab was cost effective was because I have a long relationship with contractors, have experience, and I also give this contractor a lot of business.

Many investors in your situation also explore seller financing or subject-to deals to minimize upfront costs, especially if they find a seller open to creative terms. 

What kind of deal are you chasing in Reno—something immediate or a longer-term play?

How long ago did you start? 

I can do the parade of horribles for a personally owned rental property but suffice it to say that it is a long and robust parade and the horribles are horrible.

Good luck and prepare for the long haul. 

I actually joined Bigger Pockets a long time ago but haven't been around for a long time.

If this property is hard to rent, or is functionally obsolescent (only 1 bathroom, no yard, etc), or has deferred maintenance that will be costly, or is in a location that is not appealing to Tenants, then maybe a sale would be a good option in favor of a property that has better Tenant appeal, which will likely increase rent and avoid long vacancies in between Tenants.An option to consider....

I think most people would agree that a single family home is better than a condo for a long term rental.

The technical term is Sound Transmission Class.