It's simple supply and demand, the supply is the same, a 2 bedroom condo is a 2 bedroom condo but the demand is different since not everyone can get financing on a non FHA approved association.

Home affordability in your area should definitely be something to consider, however, also evaluate if there is enough supply compared to the demand—and if the area is desirable. 

Good rentals are in short supply.

And yes I'm capable of protecting myself...that's all I'll say.I was considering Vegas and still am but the timing is not right for me to move.

It’s always advisable to bring in a money partner if the deal is above your financial capability.

We know we’ll need to furnish it as well as supply cable and internet, and that we’ll have to find a service to “flip” it between a guests.

Easy, it is called a firewall with application filtering capabilities.

Extremely loose lending guidelines, 2. the money supply that was in the market at the time, and 3. over construction of new housing.

The short answer is whether you capitalize or expense the items. it goes onto the schedule E, either for repairs, or supplies.

Median home prices are up 9.3% in 2019 YTD and there is currently only 2.3 months supply of inventory in the market.