Are there advantages of choosing Reno over Las Vegas or vice versa?

Because I really want to take advantage of the fact that I have something to start with for cashflow. 

It gives our listings an advantage over other rentals in the area that usually don't allow pets. 

There are people out there that are taking advantage of the hot market and they know people will likely do things like that to get an edge on a deal.

I would suggest you use this website to the best of your advantage, it has so much to offer!

This is a great place to learn and to meet people so take advantage of all the great resources.Find and connect with other BP members that are in your area: https://www.biggerpockets.com/search/usersI hope BP helps you achieve your goals!

So if you are going to live there I would def take advantage of house hacking and after 2 years (get your capital gains exemption) I would consider selling if you had some good appreciation and then invest in the Midwest.

I had the following question to determine if I am still within the window to take advantage of deferring my taxes or not.

Take advantage of the networking opportunities and best wishes to you.I really like the alerts feature that can quickly guide you to current topics that may be of interest: http://www.biggerpockets.com/alertsThere are a few self-contained guides that you can access here: https://www.biggerpockets.com/guides

I used this information to our advantage and was able to negotiate $55K off the list price and a $4,000 credit based on repairs.Education is key in this market in order to get deals done.