It doesn't sound to me like you have another property on the radar so why sell - and lose a good tenant, good return, and trigger capital gains for sport. 

It really is a contact sport. 

The truth is, we have no idea what's going to happen or how Vegas is going to adjust to water usage.The thing I hang my hat on is knowing that there are literally billions of dollars here in gaming, real estate, sports, hotels, etc - those big guys aren't going to go down without a fight if Vegas is in a dire water shortage in our lifetime.

REI is, after all, a team sport.

Also I do notice that both estimates include a back-flow prevention device installed upon construction of the new sewer line.

But the device has no changeable fuse, so it's toast.

Hi @Kate Kedenburg ,My family's current rental property is located in a city with many of these converted MFH properties, while my current locale sports many as well.

All contracts, options, or other devices not based upon a substantial consideration, or that are otherwise employed to permit an unlicensed person to sell, lease, or let real estate, the beneficial title to which has not, in good faith, passed to such party for a substantial consideration, are hereby declared void and ineffective in all cases, suits, or proceedings had or taken under this chapter; however, this section shall not apply to irrevocable gifts, to unconditional contracts to purchase, or to options based upon a substantial consideration actually paid and not subject to any agreements to return or right of return reserved.History.

Some background: I graduated college in 2012 and immediately put all of my efforts into the sport of skeleton with the goal of making it to the Olympics.

I also am owner of a new sport called CROSSNET (check out crossnetgame.com if your interested!).