Another Reader's correct: The 50% rule is a great place to start to see if something's viable and worth looking into more, then if it is run the numbers to find the actual NOI for the property. Many things can influence it (for example an HOA isn't typically counted in the 50% rule.. but places with an HOA may or may not have different maintenance costs because of that, so it's worthwhile to run the actual numbers if it's close on the 50% rule).
Arebelspy:
What are your buying parameters in Vegas?
For my long term buy and hold portfolio: All SFRs so far. Looked into a few multiplexes, had one under escrow for awhile, but didn't pull the trigger.
Generally around 3 or 4 bedroom, $40-50/sqft., built in the last 10 years, little to no repairs needed.
My rehabs are obviously a different criteria, and I just started buying notes, but not in Vegas.
Commercial here scares me, but I'd like to get into commercial elsewhere (Texas?).