I like good neighborhoods, with sloped tile roofs, stucco siding, built in the last 20 years. 90% of Las Vegas SMF checks none of these boxes. 

No state income tax.3. property tax's some of the lowest in the country.4. quality of construction most homes are built with stucco and tile roofs and desert landscape compared to much of the mid west rust belt were its very common to be looking at houses that are 50 to 100 plus years old. and yards grow fast  snow sleet ice all take more wear and tear on your units.we do a lot in most of the mid west rust belt states. the prime motivation is price point and rent to price ratio for those aspects they are the best.

Midnight leaking roofs, frozen pipes in the street all that.

I have yet to complete a walk-through of the property and see what renovations may be needed (potential for HVAC and interior, but from my understanding the roof and windows were replaced within the last 7-8 years).

Work out a fair revenue-sharing model, such as a flat lease or percentage of profits, and consider hiring a property manager for oversight.This post does not create a CPA-Client relationship.

The roof is over the next door properties property line.

This usually means all updated electrical, plumbing, and roofing.

I have also done the math and my account over the next 20 years will grow larger assuming a flat 7% return by taking loans then not. 

I've looked into roof stock as a possible option but I've heard nothing but negative reviews about them.   

Thankfully I was able to sell both houses and stop the bleeding.During the sale process I found out than one of my houses had a baseball sized whole in the roof and the other had two AC units that were not functioning along with mold that had to be remediated.