My daughter has bought lower end rentals in Vegas with mixed results.. basically pretty good.One tenant burned the house about down but with insurance they are coming out smelling like a rose..

When it fell through I realized how I could have been burned by a few variables going south.

but our final bid is lower than that asking auction priceI've read where people got burned because they started work too soon.

Here's your chance to ask that question about rental properties that's been burning inside of you!

They could have burned my house the down.

My first local flip was very successful but that was in the good old days when finding fat deals and then selling them was easy.

The only thing that can not be fixed is timing and location.If there is a fire that burns it down, I can rebuild a brand new for $300 k, and the new house would be worth around 2 m.From the picture of your duplex, it is in a nice neighborhood.

IE if I saw a listing @ 10%, I'd wonder what is wrong that the seller feels its necessary to burn 10% to tempt me to hard sell my client (which doesn't happen).Also, on @Paul Bowers's point, I hate language like "It won't last" and past dates.

The personal property thing is tough, because you have less protection and more ways to get burned (they could move the house and you would have to then find them to collect). 

I've personally had no experience with them and it sounds like you've been burned there, but let me know either way.Yea the try-state area is tough, because the prices can get a bit ridiculous.