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.

It’s like gambling.

Bidding on the first property on auction.com back in 2010, without any experience, insight or analysis in real estate or buying a property. [ Almost a gamble ]Went in all blind, with just the intention of flipping and with investment of 170K netted a profit of 54K.

REI is, after all, a team sport.

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.

I still think a gamble but maybe with a management plan it could work out.

1031 is another gamble.

. :)Most BP'ers will tell you not to try and play the appreciation game, because it's akin to "gambling."

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.