Stole your money.

Also, searching the properties on the county tax auditor site shows that the property taxes on both properties haven't been paid since 2020 by the previous owner.

Also, any suggestions for ways to save money on the repair? 

I have experience in construction and rehab projects so would plan on doing a lot of my own work and subcontracting out the rest to save money vs the alternative of hiring a contractor to do the whole project. 

Otherwise I start looking for another way to make money instead of through rental properties.

Tahoe continues to grow as a tourist destination and the low taxes, landlord friendly make it an ideal investment area.

Work with your tax professional to see what you basis is so you understand the tax liability if you sell. 

Rock solid rental while the money is in the stocks doing double duty as the principle investment as well as your down payment equivalent.  

Congrats on having the money to invest!

An Architect can look out for your best interest in the project plus can bring all the Engineers necessary for the build (Civil, Structural, MEP, Sprinkler/Fire suppression, etc.)As far as the build itself, if it's in an established city or town on a tax lot, then you'll need to go through the design and permitting process, gain zoning approval if necessary, and then build up from there.