It's 15 min walk to the angle lake light rail station.

Thanks @Jay Hinrichs for sharing your knowledge, experiences and perspective,  its definitely not something to take lightly and should seek qualified legal counsel for each individual case. 

I think I have hit on a decent business that could employ 1 or two people and still generate a very reasonable return.My thoughts are the renter's would sign a loss and liability wavier and I would provide security cameras and lighting.

just charge ala carte  fee for acquisition and fee for rehab management.. there are a few vendors I deal with in the mid west I call it turn key light.. buyer gets a little better deal.. operator does not incur holding costs and associated risksother wise just flip it.. as hot as Vegas is ...

In Philly they call it the "Public Lighting" account.

Very efficient units with LED lighting throughout make energy bills very low!!

Light bulbs on back patio. 

Can anyone shed some light on why (or why not) you would want to create both a S-Corp and a LLC? 

Good post, Rob.I am happy to shed some light on the subject as well if you have any questions regarding the funds or if anyone may be interested in utilizing them.

Doing renovations while tenants say in place is challanging at best unless they are trivial (e.g. light fixture -> ceiling fan fixture).