I live in Las Vegas, NV, but I have family there with construction/maintenance skills and I am looking to possibly start investing in that market. 

Easier - just go to Las Vegas and put the $38,000 down on one dice roll.

Given the job losses / casino closings in Atlantic City - Foreclosure activity jumped y/y in November.  

I'm sure there are exceptions (Vegas?).

Remote Management: Read @Jim K's post again, and again, and again.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with zero or negative relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenants: majority will have FICO scores under 560, little to no good tradelines, lots of collections & chargeoffs, recent evictions.Remote Management: Just buy lottery tickets or go to a casino and bet big!

Back in 2012 housing prices in Phoenix, Vegas, and Miami which peaked in 2008 fell 40% or more.  

I would love for AC to make a comeback and become a beach town first that happens to have casinos instead of the opposite.

I had one lady tell me she lost it all playing slot machines in a trip to Las Vegas (true story) and I wasn't impressed.

But we’re literally 10 minutes away from world class restaurants in the casinos.

I have shortlisted a few locations (based on proximity to CA, landlord friendly states, my highly limited knowledge of economy/job/population growth in the areas) - Phoenix, Mesa in AZ; North Las Vegas, Henderson in NV; Greater Austin area, San Antonio in TX, and possibly Roseville/Sacramento CA.