Depending on your appetite for risk and your confidence in the local and national real estate markets I would re-finance this house into a loan where you don't have PMI, rent it out and then use whatever extra cash you have to buy another rental in a different market than Vegas.

I would love to start building relationships so I definitely need to find a realtor I have confidence in.

All of your responses and belief in me have already increased my confidence!

Focusing on a smaller area allows you to learn that market much better and be more confident in ARV's, etc.

When you go inspecting the units, go with the role that you're verifying repairs done at their units or perhaps tell them that you're losing confidence on your PM or their contractors not doing a good job, I say let tenants enumerate what repairs were done on their unit without showing them your list (just blend them on the conversation while "checking" the repairs).

This is my first time having a cash offer on a property and I would like to guide my client in the utmost confidence.

I've been reading articles on bp for years now which has given me a wealth of knowledge and confidence in my real estate deals.

After finishing BP's Ultimate Beginners Guide I feel confident in my drive to dive deeper.

I feel much more confident in the real estate market for long term growth than the stock market so I definitely want to balance my portfolio a little better.  

From the initial look at the numbers it looks as though you'll be completely locked into this property with no equity and thus no flexibility.I'm confidant that with more time and effort you can find a much better opportunity in Kansas City.Just my rookie .02, I hope whichever decision you make is a blessing for you and yours.