As a frequent flyer to the Tahoe area I definitely believe this house will kill it with skiers in the winter and boaters/lake enthusiasts in the summer.We manage 75+ properties in FL, ranging from studios at $80 a night to 5 bedroom beach houses going over $2,000 a night. 

Do your gambling in the casino where YOU control your losses through the wagers you choose to make.

I was trying to looking for people who have done something in the past and learn from their experience, I am still very skeptical about this deal but he seems so enthusiastic.

Longer term bullish on Vegas (new Casino resort in a few yrs, Raiders, Hockey, etc.)  

Look for beaches, amusement parks, shopping, casinos, restaurants, popular yearly events, etc.

South Lake tahoe, by the casinos, has acres of garbage C duplexes...1 mile from million dollar homes...

I imagine a lender would not be very enthusiastic about me holding a small note on the property, but wondering if anyone has dealt with a similar scenario before? 

Major casino nearby with no real housing much between Denton and the casino. 

I am a new (albeit enthusiastic) member on Bigger Pockets and the one thing that is dismaying me so far is that some of the member posts really come off as quite beligerent in a sometimes condescending way.

Enthusiastic new investor.