You can find higher ROI (on paper) here and probably in other cities…but the probability of actually collecting rent significantly decreases.

To further expand my real estate endeavors, I acquired another condo near the strip, implementing a house hacking strategy to optimize the use of space.

Fourth, collect cash flow. 

You may look for a "pre-fab" countertop supplier who sells half slabs (perfect for counters and already fabricated.Look on Pinterest for a little inspiration and start collecting ideas, then see the common look that you gravitate towards.If you'd like to hop on a call, I'd be happy to help with some pointers.

They charge 8% of collected rent, $300 realtor commission to place the tennant and I think a $125 admin fee.

In any given city, the areas with the highest rent-to-price will usually be the areas with the highest crime, rougher neighborhoods, transitory tenants, where you will be lucky to collect any of that rent.  

That's where I could use your collective wisdom.

If the alternative is wait 5 years for a down payment on something you don’t live in, you stand to likely gain substantially by moving on this decision now and collecting rent, principal pay down, appreciation, and tax benefits in those 5 years.  

I actually believe it is useful to have your license as an investor as you can collect commissions from your own deals and search for deals as well as serve others in the same capacity.I recommend making a connection with a good property manager in your area if you intend to work with investors and to make your own investments as passive as possible using them.

I just want to sit back and just collect mailbox money without much work.