My family recently inherited several rental properties.

Definitely run a title report on the property.

There, you'll find detailed information on investing, both in general and specifically in Las Vegas.Before I continue, note that unless otherwise noted, the charts only include properties that match the following profile.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 MonthInterestingly, September saw a rent increase MoM ($1.21/SF vs. $1.18/SF), bucking the traditional seasonal slowdown trend.

Goal: I’d like to buy my first rental income property in the next year.

I recently learned that if you owner occupy a residence for part of the 5 previous years before sale, and you rent it for the remaining time, you can calculate the percentage of time the property was owner-occupied (and thus qualifies for the sec. 121 primary sales tax exemption of up to $250k for single filers) vs the time it was being rented (which qualifies for 1031 exchange) and claim both benefits. https://hcsequity.com/blog/combining-1031-exchange-with-121-....How does this work for a multi-family?

@Gabriel ShapiraThere are multiple software tools for investors depending on what part of the business you want to automate most are for acquisition or property management.

Hey Ryan,Did you already buy the property with cash?

My end goal is to have multiple properties that generate income through long term rentals.

I have been managing this one property where everything has been going well and housemates have been happy and even renewing their lease for the past couple of years with no complaints.

When the property is owned "Free & Clear" There is a lot of flexibility when the property is free and clear.