I hope someday to be able to tackle such a project.

If you can't tackle and overcome ALL three of these you are throwing money into a very deep pit.

Water $1200 - taxes $2000 - Insurance $2000 - PM Fee $1,740  leaves you $10,460.Lets tackle PM first:  Most OOS investors (or hands off locals) think a PM is just the 10% - WRONG! 

I'm not a big fun of Las Vegas as this city relies mostly on tourists coming over to loose their money , there will be less of them in the future as people simply won't have money to loose, not essential plane trips will have to be curbed to tackle global warming, and the city doesn't have much more to offer apart of gambling.

Using their knowledge and expertise, you'll make the house efficiently designed as well as tackle any zoning and permitting issues which may arise going from design to start construction.   

Your approach should be to tackle this as if you are trying to save the life of a loved one.

Demo will be starting Monday.Anyone have any tips or suggestions on how to properly tackle one of these old beauties?

I am looking for the 10,000 foot summary to get my mind around what I will be looking at when its time to tackle this.I bought a fix and flip home in 2013. 

I explain to them that we will immediately tackle physical problems with each unit, one unit at a time, but the increases will not be implemented until we complete those repairs/upgrades.

The social issues can easily be resolved by organizing the community and tackling blight (with persistence).