If you are not familiar with the area, it's considered a pretty run-down, bad neighborhood in San Diego.

I am in Denver and my strategy has been older duplexes in great neighborhoods.

Some neighborhoods you can stand on a street and look both ways and see 3 or 4 houses under construction (infill developments) and most are already pre-sold before they finish completion.Now, obviously the OP and you were discussing areas up a little further in the county, and as you mentioned they are quite different than the areas I am talking about, but I think the biggest difference comes from people tired of the commute into DC from areas further out.

New buyer Rehab property and is listed above 150k currently , property is in a very good neighborhood as well .

In Vegas you are not going to get something that is going to be in a good neighborhood that most property managers are going to want to deal with.Mine that I had listed for 145 had 2 break-in last month where they took all of my appliances!

We would plan to Buy, improve, and hold the property, and in doing the renovation, would take estimated rents (based on neighborhood rent comps, craigslist, etc) from about $2400 per month (1200 per side) to around $3300 per month (1650 per month, per side), based on prevailing rents in the surrounding neighborhoods.

At one time, it was the prevalent trend for people to style their houses according to a certain template with one certain color palette and similar furnishings and accessories.

Cash flow is strong, but the appreciation is limited in this working class neighborhood.

Get the investor to sign a Regulation D-style subscription agreement attesting that they're accredited that this should be sufficient to be reasonable.

In some neighborhoods rentals are frowned upon, for many of the same reasons many condo developments require owner occupancy.