In that situation, the dwelling unit is never disposed, and that is the essence of the dynamic you're trying to examine.Now, with the situation at hand, you're talking about a lot more than just scrapping the mobile home, so the optimal answer given the facts and circumstances would depend on a conversation with a tax advisor who excels in this area. 

We both have excellent credit scores.

John,Another way to look at it is to crack out the excel sheet and break down the financing.  

excellent!

I'm looking for something my family could use 2-3 times per year as our vacation home and then AirBnB the rest of the time.I've looked an AirDNA, TikTock (good and bad there), and YouTube videos about other people experiences, but I'm hoping to really dive into my hyper local area to understand the math and "effort" to keep it profitable.Thanks,

As for tools, being well rounded with excel and an account at Zillow should suffice for most things.

I have seen plenty of videos talking about it but of course have no idea if these are legitimate methods as I have never rehabbed a house and therefore have no clue if these values are anywhere near correct.

There are excellent investment properties in Las Vegas, but C Class and most B Class properties are not the best options.

Is it possible to make DIY interior updates watching YouTube videos?

Definitely get out to some meetups asap but also absorb as much info from youtube videos, podcasts, etc.