The sort of drivable, regional vacation destinations that are not on the radar of most out of state investors.

A savvy investor will impute a negative inference to the fact that Spark is unlicensed, cannot legally make investment recommendations and owe you no sort of duty (fiduciary or otherwise) to put your financial interest ahead of their own. 

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.PM us if you’d like to discuss this logical approach in greater detail!

I'd have to quit the business if I was paying that sort of price for an AC system. 

Might not be worst idea keeping them as long as they are paying. 

GSA has no problem entering into leases on its own.I think the whole arbitrage an apartment or rental idea is one of the worst ones around here - and that is saying something.

Assigning your own value to "x" will affect the roadmap - What are your best/worst case scenarios, what is "x" for each scenario and what does the roadmap look like for each? 

We're sort of trying to figure out where to begin with out-of-state investing.

There is so much advice and noise from the "experienced" investor it can be hard for new investors to sort through it.

Actually most stuff built after the late '80's has some sort of HOA in the Vegas metro.