Wouldn’t this lead to less supply of quality rentals which will drive up costs for purchases and rents?

Same with units on the backside of a building or have to go down stairs to get to.Pay attention to office for that areas saturation levels of inventory per sq ft for lease along with new builds slated and how much of that sq ft is being absorbed in the market (supply versus demand).

If it's between 8-12° difference from the supply vents and what it's calling for on the thermostat, it's good.

We'll see signs and more and more people will start to get worried but it doesn't happen within a month's time or even 3-5 months time (as in, suddenly everyone just capitulates, and the supply/demand dynamics suddenly change). 

Realtor does make a difference..but so does months inventory (supply) and DOM (carrying costs).

Our inventory is at historic lows and has been for years; the buyer demand far exceeds supply.

Simple supply and demand issue.Instead of doing this, they should have incentivised builders, developers and investors to create more affordable housing units through tax benefits.This is not going to create more units, it's going to have the opposite effect!  

Not in vegas, but i bought my wood look tile from Lowes. and i used several 20% off coupons for all supplies, dividing them into several $100 purchases.

It will probably take three years to fully renovate including new appliances, cabinets, windows, flooring, paint, bath fixtures, water supply lines and drains.

So you are supplying a furnished house, and utilities, so your expenses will be more than a LTR.