Also this is a main road where there is cars coming consistently. 

For example, if you are a "consultant" and have "consulting" gigs that are irregular and sporadic and have no consistent business that seems sustainable to an outsider.

It's just very difficult to consistently find good enough deals.

Seems to make sense since there are consistently people rotating through that are looking to rent. 

Have you ever had a Real Estate investing "epiphany" or idea that you shared with someone only to have them shoot holes in it? What was it? We're they right?

On the other hand, the location of this property has seen very consistent appreciation and over the long-term is highly likely to continue going up in value at a higher rate than most other areas of the country.

Is it worth spending $2k to replace this carpet even though the value of the property will not be raised due to a consistent sale price over the last couple years throughout these 2 bed 1.5 bath condos regardless of condo condition?

You have to be consistent.

There is a lot of suburban growth away from the casinos.Plus, the strip is still the most significant concentration of consistent adult stupidity/debauchery, etc in America, a close second would be Bourbon Street, followed by maybe Miami Beach Ocean Drive.

Ypu need to be in a position of having no debt, significant savings, a good credit score and high consistant income for 2 years running to qualify for financing.