House hack, Duplex, Fourplex,  8 plex  Apartment building. 

There are less restrictions in North Las Vegas and Henderson.The city is very protective of the big casino/hotel operators, and rightfully so. 

I would buy a 4 plex for ~500K.

Similarly, if you put several Class D tenants in a Class A 4-plex, what do you think will happen to the property?

This was a no money down deal was a tri-plex, duplex, SFR and studio all on a few city lots.

To gamble, I will go back to Venetian Casino, either “DOUBLE IT” or “LOSE IT ALL”. 

Similarly, if you put several Class D tenants in a Class A 4-plex, what do you think will happen to the property?

If the prices work where you are, I think with your experience, you could go right into a four-plex and do fine, especially if it was light to moderate value-add because of your knowledge and connections.

I flip a few houses last year in northern NJ and recently bought a four plex in Fountain Square in need of full rehab and looking at Indy for future flips.

For the 4 plex you are spending an extra 80k in renovations (I question your 110k renovation number to get to 4 units - this could be low but I don't know the square footage or layout).