Boy, you are starting off in the most expensive RE city in the country!

I think we can all agree, we're not going to see the double digit appreciation we saw in the early 2020's. 

No foundation issues, etc. but the inspection report did indicate the need to fully replace the HVAC system and all ductwork (we agree due to us flipping this property and needing to pass resale/buyers inspection).

As for the investing side of things, Vegas is experiencing some major growth in real estate and even now as the country as a whole is in a slow-down or market is definitely and hot and still a sellers market which is what you're looking for in terms of appreciation.

Agreed.

I agree with @Chris Kersey about Sunnyside.

I agree with @Kate StoermerIf you are planning to hand off to a PM, they will have their own systems. 

The seller would have an attorney write up the loan for the second position, and those terms could be agreed to separately.

Tenant has already agreed on price.

Yes and I agree don’t lower the reno budget