There are some items that are not allowed in a 203k, swimming pools come to mind. 

There's also no pool or backyard setup.

I also have been very happy with the tenant pool there. 

Many OOS investors set themselves up for failure because they don't truly take the time to understand:1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.2) The Class of the PROPERTY they are buying - which is relative to the overall area.3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.6) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.7) That OOS property Class rankings are often different than the Class ranking of the local market they live.8) Class A is relatively easy to manage, can even be DIY remote managed from another state.

I was thinking SFH buy & hold in our backyard of Las Vegas, rent by room to travel nurse/professionals or potentially Airbnb in Henderson (Airbnb potentially becoming legal in Clark County in July 2022)Thanks in advance!

You are really buying here for appreciation of the asset and a huge pool of willing qualified tenants.In terms of monthly expenses, you will have the insurance policy, roughly $4k annual, common area electric- $150 monthly.

Real life is walking and analyzing plexes in your backyard. 

Purchase price: $255,000 Cash invested: $90,000 2/2 condo 1 block from the beach with pool.

While SA doesn't have the same volume of large corporate headquarters that Dallas or Houston has, SA has a relatively strong/stable renter pool thanks to strong economic growth, a large military footprint, and tourism.You mentioned UTSA and the Medical Center areas, which would be good options for a STR or AirBnB. 

Are you planning on buying these properties in your backyard?