@Shane Gaboury I don't know what kind of building stock is in your area, but in my opinion, multifamily investing will normally beat condos all day long.

Vegas, even though very hot in the summer, does not have a big drop in the summer because people come for the shows, glitz, gambling. 

If you do that though you can't actually take out any of the cashflow...because the problem with CapEx is that it doesn't actually cost just 8% of your rent. when it come it comes big and heavy, so you'll need to be able to build up to having that reserve account...some people like to gamble and will take it out...I personally don't recommend taking cashflows from your real estate until you're much further along with much larger reserves.

Additionally, here in Texas you arent liable for normal nightly hotel taxes if you are booked for 30+ days which equals a huge savings.

I can't speak for every bank here but your "Loan to Value" will normally be for 75% of the ARV on single family and 70% on 2-4 unit properties. 

I would be eternally grateful for any recommendations from the BP community in the Las Vegas area for such contractors.I'm looking for all trades and GC's although we will normally GC our own projects.

ONLY when the 30 days is up can you schedule the sheriff,  which is 2 weeks-2 months wait in normal times,  was twice that in 2010 when eviction rates were very high.  

Totally normal, don't worry about it or run away as fast as you can?

It may seem strange but live there a month and it will become normal.

And it makes sense they are expensive because that is time that they would normally be spending making real estate money and so the hourly rate is a lot higher when investing than when teaching.Good luck in your journey!