If you don't have enough to buy with cash and will get a mortgage, I would focus on finding a good-value home with a solid CAP rate and Cash-on-Cash return that will appreciate and fit the most common rental size house in your area. 

On top of that, a new home is generally going to have a lot more demand due to size, finishes, amenities etc.

There, you'll find detailed information on investing—both in general and specifically in Las Vegas.Before I continue, note that the charts only include properties that match the following profile, unless otherwise noted.Type: Single-familyConfiguration: 1,000 SF to 3,000 SF, 2+ bedrooms, 2+ baths, 2+ garage, minimum lot size is 3,000 SF.Price range: $320,000 to $475,000Location: All zip codes marked in green below have one or more of our client’s investment properties.What we are seeing:The chart below is from the MLS and includes ALL property types and price ranges.Rental Market TrendsThe charts below are only relevant to the property profile that we target.Rentals - Median $/SF by MonthRents had another slight drop MoM ($1.18/SF vs $1.19/SF).

@JayHinrichs, you are correct that there are above 8000 members in Subto and with that some sort of dilutive nature based on the sheer size and interactions.

Also i think it may be size of property. my experience and discussions, VRBO tends to be older members looking for larger properties.

I have seen a lot of investors get stuck with a Heloc that they opened up and due to a small mistake find out the bank cut their heloc limit in half or in some cases closed the account leaving them with a balance to be paid off before they could even finish a renovation project.Heloc rates are much higher right now versus a 30 Year cash out refinance by over 3-4% in some cases higher depending on credit score, CLTV, and loan size.

I have been looking into Legacy Homes.What size or type home did you buy?

These items are important so that you can budget accordingly and price the deal correctly.What size properties are you focusing on?

The pitfalls are obviously bad neighborhoods (easy to gauge talking to brokers or running crime maps) and also find the right property manager depending on the size and class of the property. 

Each is about the size of a large plastic container or shopping cart, and they mount right to the wall.