$5-$6K/mo rentals viable?

[Gordon Hee]

Selling rental property in Honolulu and hoping to re-invest it via 1031 exchange in a rental that generates more income. Considering Vegas (Summerlin?) but am unsure what the rental market is like for single family homes in the $5K-$6K/mo range (purchase price $1mm+). Appreciate any thoughts/advice from people with expertise and knowledge of the area. Thank you!

[Bill B.]

You could talk to @Jay Hinrichs he’s talked about high end rentals here.  Or you could exchange in to a couple of $400-$500k properties that should easily bring in $2500-$3,000 each and spread out your risk a little.