It takes 5 gallons of water to generate an amount equivalent to a gallon of gas.

Another thing I would definitely ask about is what kind of training/support the team offers in terms of marketing, lead generation, and overall practice as a realtor.

Further, I believe that every good investment location/property must meet three criteria:Sustained profitability - The property must generate a positive cash flow today and into the foreseeable future.Currently and likely to continue appreciating for the foreseeable future at or above the rate of inflation.In a location where you can make money and you control your property as opposed to the government dictating what you can do.The right properties in Las Vegas meet the above criteria very well.

Your rental activity is reported on it. 1065 will generate two k-1s that will report each share of net income/loss.

If you live in the property how are you going to generate income? 

@David HulitIf my calculations are correct, with rental income of $3,900 and total expense of $2,556 ($1,556 + $500 + $500), this property is generating a 26% Cash on Cash return.

There are few properties east of I-110 (somewhat low income areas) which would generate decent cashflow but being a new investor I am just being little skeptical. 

We invest in active investments and passive syndications for the purposes of generating income, so I think it would be way too conservative (and silly) to assume that none of our investments would produce cash flow in the future.Sure, we can't exactly predict exactly how much passive cash flow the syndicated investments will generate, however we can be fairly certain that they will generate some cash flow.

I would like to generate good monthly cash flow in a low risk area with good capital growth, with working families and young professionals as tenants.

Car magnets are NOT call generators.