If investing and residing in a small multi-family in either of these markets appeals to you BUTyou still can't get all the down payment or other money together(or you'd like to spread the responsibility and risk with a partner with different expertise),we should talk.I'll be in Phoenix in August and Vegas in October (and again late January-early Feb.) and am open to exploring such arrangements.

I do both rentals and rehabs, and can tell you 100% that carpet, no matter how clean you get it, will lower the appeal and the income potential of your property.

Make sure that furnishings fit the guests you are trying to appeal to.

I have done some research in several markets across the country that look appealing.  

I invest ins smaller condos - 1 BRs and it appeals to a mass market.

The assessor’s office said they can do an ‘informal review’ at the end of the year to see if they can decrease it for next year, or my other option is to formally appeal. 

For instance, you could agree to cancel some of their outstanding debts, and/or you could make it clear that their security deposit will be withheld if they don't leave under your terms, and/or make it clear you will file a lawsuit to recover the money they owe you if they don't meet your conditions, and/or get a collection agency involved, and/or you can make it clear there will be an eviction for non-compliance with the contract (among many other methods)...I would also suggest reading up on cash for keys, and seeing whether that strategy could work...talk to the tenant to get an understanding of why they are staying, what things would prevent them from leaving, what things would incentivize them to leave, etc.  ...ultimately, you need to create a new agreement (in a new contract), where the option of leaving and abiding by the terms of your new contract is MUCH more appealing to the tenant than the option of staying and/or violating the terms of your new contract.  

Your offer is Conventional rather than FHA, meaning more appealing to sellers.

@Nathanael Tinaya when looking at a historic home you'll want to call the town to see what renovations you can and can't do on the property, some of the rules that govern historic properties can be limiting in certain instances and can hurt you bottom line (ie. having to replace a slate roof) or ARV (not being able to update curb appeal or add central heat or air).Also with the seller finance portion make sure the terms don't ruin your deal, the balloon payment can wipe out your profits for years to come if its too high for instance so you may want to double check that the terms of the deal really make sense and to ensure you can cashflow for years to come with whichever method you choose

. - FSBO - owner offering financing: 20-30 years at prime +2% and 15% down - owner financing appeals because I don't have W2 income so I won't be able to get a conventional loan, though perhaps could get a debt to service loan since it is a rental property- Renter in the property, owner says they are a great tenant, currently paying $1500/month, tenant covers all utilities.- According to owner, in very good condition, no major repairs, newer roof and AC, recently painted.