My primary residence is in CA, but due to the cost of the property market in my area I feel Las Vegas is better suited for my objective.

This influences your ability to make money with the property unless you spend the money and commit to more time with a Quiet Title Suit.

The comps clearly show this house is best suited for a rental.

That would be better suited for the analysis of what you are trying to do, IMO.

It's never too late to get started and you've certainly come to the right place.Here's a good quick look at RE investing: http://www.investopedia.com/slide-show/real-estate-investing/It looks like number 2 and number 4 would be most appealing for you.If you want to have exposure to RE cashflow and appreciation without being very hands-on, you might be best suited to find a solid REIT or even consider investing/partnering with a smaller company/individual that is looking to expand.To answer your questions:1.

Kevin RilesBroker/OwnerUpscale Properties A Real Estate Services and Development Company14090 Southwest Freeway Suite 300Sugar Land, Tx 77478Ph: 281-403-3700Full disclosure, he helped me find find and finance my 10 unit apartment complex and is also now selling it for me.

Hello,10 years ago I bought a 4 suite building in Brooklyn with my best friend.

If you can, find a duplex or a house which you can add a second suite.

I bought a 2,400 sq ft 2br house with three living areas and turned the second living into a master suite with attached bath.

Not suited for a family.