It's looking like we might need to play the appreciation game but the inventory here in Vegas for our loan amount is low.

Nevada is landlord friendly, low property taxes, and strong job and population growth.

$20K a piece would be very low

Can you find a local portfolio lender from a small bank or credit union.

Since my capital is low I was planning on utilizing my credit cards to fund the rehab.

Developing contacts with other investors may lead to useful information, assistance, and even joint venture prospects.Examine the several financing choices that are available for buying houses, including conventional loans, FHA loans, VA loans (if appropriate), and even portfolio loans from nearby credit unions or banks.You might think about contacting mortgage brokers who focus on investment homes.

High risk/effort and higher yield or low risk/effort and lower yield?

This strategy is also the best way to get into real estate investing with low risk.

I'm a first time investor, about 40 years old,  looking to take over a family property.  Property is worth about 600k market value.  We feel good about this as it almost sold awhile ago for this exact amount and has b...

Not too low either, you don't want to go with someone who is just focused on price as this is a quality of a not-so-great accountant.