If you live in Vegas and can self-manage the property, I'd likely recommend sticking to the market you know and have succeeded in.

My goal is to get started with a turnkey MTR or LTR, unless I can be convinced BRRR can work without being present to manage the rehab. 

I have purchased the following books:ABCs of Buying Rental Property The ABCs of Property Management The ABCs of Real Estate Investing The Advanced Guide to Real Estate InvestingThe Book on Investing in Real Estate with No (and Low) Money DownWhat order do you recommend reading them in?

Managing tenants yourself is no small task, but I’d say it’s often a blessing in disguise.

I bought 8 properties through REI and then bought one on my own in an area REI manages (so 9 total that REI property manages).

The insights shared by the Realtors, @Zeke Liston, @Jimmy Lieu, @Nathan Gesner, @Samuel Diouf, @Sam McCormack, @Min Zhang provide a solid foundation for anyone starting out in this industry.From a property management perspective, it's great to see you're considering the long-term rental strategy.

2.What are the best and most cost-effective solutions for managing this potential long-term issue?

They all cash flow and are easy to manage (so far).

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

I'm a Project Manager at an Architectural Firm specializing in Custom High-End Homes.