My very first purchase from 10 years ago is the perfect example; while great in cashflow (actually $250 in rent increase per door) has not appreciated at all.

Your story shows that success is not guaranteed but if you develop and commit to the right routines/processes, you can increase your chances of success.

You also need to take climate and geographical area into consideration. 

I do agree that it is a huge risk and not for the faint of heart which is why I’m taking a temperature on here of whether experienced investors feel I would simply be taking a risk which requires certain considerations and precautions or about to do something completely stupid.

Apparently, you just have to try and increase your network.

Also, be aware that Texas property taxes are higher than you might expect, and they increase every 1-2 years. 

If you are in a low paying job concentrate on increasing your income.

Not only would you have to subsidize this property for the foreseeable future, odds are (with all due respect of course and not to question your PM skills), you might expect the expense ratio to increase under your tenure in comparison.

There are quite a few considerations you should take into account investing in Vegas. 

C can come with higher cash flow for certain periods but it can also come with increased risk & potential downside loss.