I'm fairly risk averse, but at the same time I love to take a gamble on real estate some times.  

It's really starting to get scary now when many markets that use to cash flow positive no longer do, and you are almost gambling on appreciation.

However I don't see anyway around it there is absolutely no way to get above them in the SERPS and if you were to try it would cost you millions a year and it would be a gamble not a sure thing. 

People are gambling on one of two things. 1) the property owner won't pay for that year and you then get to purchase the subsequent years effectively creating dollar cost averaging. 2) the property owner won't every pay and you get the property for a fraction of what it's worth.

You would need to buy a single one and get very lucky - at that point it's more like gambling.

I know quite a few people in Tech and they are all concerned with how funding is slowing down and quiet layoffs.In the past, it was really easy to raise money for startups because there were so many new millionaires willing to financially gamble on ideas.

You could be onto a great deal, but make sure your sitting pretty without having to raise the rents, because if you have to raise rents to make it work, your gambling!

Much easier to take deductions and avoid or defer income tax...property tax is uncontrollable and unavoidable (barring abstinence).  

If it's something uncontrollable, like their own attitude about other employees, it may be time to consider letting them go.

Also low rent is also generally needed because 1) tourists are willing to pay more to be on the strip (it's a gambling market so they are OK to spend money), and 2) hotels on the strip are already really cheap and in high supply.