I hope I placed this post in the appropriate category! 

Also, we are only renting out one room whereas you might be renting out an entire place, which would also yield higher rates.I actually work as a Realtor in Las Vegas, so I can always help you find an appropriate property near the strip.

I am looking really hard for my first rental property, and I am trying to pinpoint the most appropriate and efficient way to acquire this property, and then rent it, without spending a lot of my own money. 

If I am still interested at this point what is appropriate to ask for next??

The way you're using the word "equity" is tripping me up.But before I comment, I need to point you to @David Greene's BP Blog Post that had a brilliant discussion on cash flow vs. equity.OK, to directly answer your question, besides just saying to focus on assets that have both a strong potential to appropriate AND cash flow... if I had to choose, I would aim for equity growth.Cash flow is critical, but you can do many thing to improve cash flow ... especially if you're willing to look beyond tenant rents.

Disclose, disclaim, details (PPM or some disclosure document).File the appropriate paperwork with the SEC and states where you operate.  

@Mark GruetzmacherIt's hard to explain, but I have all the appropriate paperwork to not fall under the Dodd frank and safe act jurisdiction, while also protecting my investment and my buyers best interest.

If you need more cash flow then the lower LTV seems to be more appropriate if you want a big pay out to try and reinvest quickly then the larger LTV refi may be a better idea.

Q3: What kind of direct mailing is most appropriate (postcards/yellow letters/business letters) for the list(s)?

I think the fancy presentations are more appropriate for portfolio lenders.