New roofAll new bathrooms All new Kitchens Awesome 5 plex in awesome School district 10 minutes from my house.

Milwaukee’s Harbor District Plan is going to tie the lake into use and has already began.

This area is also developing nicely due to a solid school district, and bigger houses are going up all around though the houses on this block are all smaller and older. 

It has great schools district, and its the next city after Alpharetta and Milton.

Cedar Park and west Round Rock have better school districts and are more mature areas with lots of commercial development including restaurants, higher-end grocery (Whole Foods), entertainment, etc.

.• Actual property taxes in Las Vegas range from 0.72% to 0.86% depending on the local tax district so I used 0.86% in my calculations.• Actual landlord insurance in Las Vegas for a $110,000 property is approximately $500/Yr.Using the following formula I will compare returns:ROI = ((Rent - Debt Service - Management Fee - Insurance - Real Estate Tax - Periodic Fees) x (1 - State Income Tax))/(Down Payment + Closing Costs + Estimated Rehab Cost)For the property you mentioned:• Purchase price: $100,000• Monthly rent: $1,000/Mo.• I will assume zero rehab, zero closing costs for simplicity. • Debt service: assuming 4%, 20% down and 30 year fixed, the debt service on a $100,000 property would be approximately $382/Mo.• Management fee: 8%• I assumed 100% occupancy for simplicity.• Neither Texas nor Nevada have state income taxes so I used zero for both.ROI = ((1000 x 12 - 382 x 12 - 1000 x 12 x .08 - 1580 - 100000 x 0.0188 - 0) x (1 - 0%))/(100000 x .20 + 0 + 0)ROI = 15%For the Las Vegas property:• Purchase price: $110,000• Monthly rent: $1,000/Mo.• Landlord insurance: $500/Yr.• Debt service: assuming 4%, 20% down and 30 year fixed, the debt service on a $110,000 property would be approximately $421/Mo.• C class properties in Las Vegas rarely have any HOA fees so I assumed zero.• I will assume zero rehab, zero closing costs for simplicity. • Management fee: 8%• I assumed 100% occupancy for simplicity.• Neither Texas nor Nevada have state income taxes so I used zero for both.ROI = ((1000 x 12 - 421 x 12 - 1000 x 12 x .08 - 500 - 110000 x 0.0086 - 0) x (1 - 0))/(110000 x .20 + 0 + 0)ROI = 21%So, if you look at real return, a 10% more expensive property in Las Vegas actually generates a 40% higher real return.If I look at cash flow using the following formula, the differences become more pronounced.Cash Flow = (Rent - Debt Service - Management Fee - Insurance - Property Taxes - Periodic Fees) x (1 - State Tax Rate)For the DFW property you mentioned:Cash Flow = (12000 - 4582 - 960 - 1580 - 1888 - 0) x (1 - 0)Cash Flow = 2,990/Yr.For the similar Las Vegas property:Cash Flow = (12000 - 5041 - 960 - 500 - 946 - 0) x (1 - 0)Cash Flow = 4,553/Yr.So a 10% more expensive property in Las Vegas generates approximately 50% more cash due to cost factors like landlord insurance and property tax rates.I next estimated the maximum amount you could pay for a property in Las Vegas, renting for $1,000/Mo. which would generate a 15% return.

I told him I was going to file complaints with the attorney general, PUCO, CFPB, and my district's congressman, and he agreed with that course of action.

It is in a suburban area surrounded by homes in a solid B school district.  

@Stephanie Jacobson Yeah, the capitol district.  

First consideration would be whether it's in a historic district.