Buyer who thinks if property is worth $500k and balance on loan is $100k that they can get the $500k at auction.4.

Would it be worth it to invest in a less expensive unit just outside of the strip or is having a place within walking distance the biggest appeal?

However, if you remember the presidential candidate from years ago who was Dallas based, Ross Perot, he said, if you want to make a billion dollars in real estate, buy in the path of progress. 

But it's all worth it for me.

One thing to watch out for is the financing aspect of it - could be a hurdle getting a loan if the transaction is "non-arms length" - i.e. between "Friends" - might be worth looking at seller financing too

I just find that they aren't worth it because of all the edits you have to make on the spreadsheet to get the same result, and one of the softwares refused to allow Journal Entries which seemed like a huge red flag to me. 

Just remember though, that you also build your own reputation as a developer, and if you get know for being too pushy and inconsiderate that these consultants have other clients to serve too, or that you fire too quickly...you will run out of people to work with.

Also, remember that screening is key.

That's about three months worth of cash flow out the window.

While I don't see it on the IRS tax information, if I remember from the conversation with him, I think you have to buy properties that need significant improvement.