With lower rates (mid 5s) I am expecting prices to jump again in spring, as they have done basically every year for the last 15.

SFR is much more difficult because of taxes, purchase price and rent generate but if you are open minded to a rent by room strategy or mid term rental strategy SFR can look more attractive.  

They help you find short or mid term clients.

Mid term and STR is a good option but you will have to furnish it, and do not go on the cheap route from IKEA or something that will break and you will have to replace it again anyway.  

Current acquisition cap rates for commercial properties are in the mid 5’s - mid 6’s.Agree that 3 cap was insane.

You have an owner occupied loan in the mid 6s today (hopefully lower later).

We were originally targeting a September 2022 completion date, but now it looks like the front house will be completed April 2023 and the main mid-summer 2023 for the DADU."

If you love hospitality and hosting, maybe the Short-term or mid-term route is for you.

Be patient. these are mid-term plays, so you must be prepared to go without the cash for several years.

And, due to the arid environment, property upkeep generally remains minimal, saving on both time and costs compared to areas with high weather impact.Moreover, the mid-term rental (MTR) market in Las Vegas presents a significant financial upside, often doubling the rental income compared to standard long-term leasing.