I'm curious to hear what others have experienced in regards to this situation. 

Due to the inherent characteristic of this type of siding to deteriorate if not properly maintained and the difficulty in detecting all damaged areas, a qualified siding installer should perform a more in-depth evaluation.

@David CorboyFrom what I have been reading Vegas is experiencing some strong rent growth.

If it is a flip - then you cannot use 1031. 1031s are for rental properties.If it was a rental - then yes, you can use a 1031 exchange. 3 pointers:sometimes it makes more sense to pay the tax, so run the numbers firstuse an experienced 3rd party intermediary, like @Dave Foster or @Bill Exeteryou must engage them before you sell the propertyGood luck!

Once I am considered experienced I'm sure it gets easier right?

But when you get ready to buy, you'll pay whatever they ask to the best, most experienced broker in the area to make the transaction successful.

Here are the numbers:Purchase price:        $57K (remaining balance of loan)Agent commission: $3400Legal Fees:                 $600Rehab Budget:          $8000Expected ARV:           $80000Assuming I max out the rehab budget, this would put me around a LTV of 80% +/- at the time of refinance.Any investors that are experienced with Subject to sales have any words of wisdom, past practices, lessons learned to share with me? 

I believe you should concentrate on becoming a successful, experienced dentist before learning another trade (successful, autonomous investing).

For "bookkeeping" an experienced bookkeeper and a real estate accountant who has risen to a controllership role can both do the work.

That's your real return.Best way to find out cap rates in your market is to speak with experienced brokers who deal in the asset class you're interested in.