I think there is a huge opportunity in Las Vegas right now especially with what is set to arise in the horizon.

If you have a long time horizon then yes.

You still have upside potential on the units you do not pre-sell, but that comes with downside risk.Possibly, you could use prefab (modern prefab housing can be of the highest quality) to control for costs and shorten the time-horizon of the project.

Assuming an investor puts 25% down on a property, a typical breakeven horizon is 5-7 years.

Now we are now looking to the next horizon which will include multi family, medium to large size if we can find the right partner and the right deal.

Each step you take reveals a new horizon.

New construction isn't even keeping up pace with household creation so it seems that hyper-supply is not on the horizon. 

Prices are still on the rise, and if Buy & Hold is your plan, perhaps do some more research, get that license, and wait until the slow-down that is on the horizon (slow-down, not crash).If you do decide to jump in on a Buy & Hold deal, just keep in mind, on SFRs you will spend 2-3 months of your Rental income on average on Taxes in this state; there are opportunities out there, but you need to look hard for the right buy and remember it's all about solving problems!

Ive visited Vegas a few times driving around neighborhoods a few months ago with an agent/police officer looking for property and found some good pockets just north of Henderson and around Horizon Ridge Parkway.

Primarily experienced in the Chicago, Philly/NJ and Nashville markets but would love to expand those horizons.