Native New Mexican here, transplanted to Massachusetts.Bought first property at 33, a 3 story triplex.Re: student rentals, you could concentrate your marketing toward STEM graduate and medical students at UNM.

:In older structures originally painted with oil-based paint, when you put too much concentrated TSP on your walls and scrub it in with a sponge mop, multiple layers of latex paint go soft and start peeling right off down to the oil-based paint.

Concentrate on initiating your wealth building and real estate portfolio in that proximity.

Soon after going back and struggling in high school that I was smarter than most other college students and could resist all of the partying that went on and caused several friends from graduating because they could not resist that and concentrate on learning instead. 

I think Las Vegas has some unique dynamics where fourplex multifamily structures are concentrated in D class areas. 

If it were mine, I'd concentrate on renting it out, and just ignore this issue.

Getting laid off from my 9-5 in 2010 turned out to be the best thing that ever happened to me, as it forced me to concentrate on REI full time.

@Jeffrey Masessa if you have the time and money to concentrate on real estate, than go for it.

In Houston we have the #1 market for job creation in the US, Low inventory and one of the highest concentrations of migration out of most US cities. 

If you think about it as concentric circles then the highest level of involvement would be managing the property yourself in a market you also live in, the second would be using 3rd party manager but sourcing your own deals in another market, 3rd circle would be paying others to source your deals and do the work to repair and mange, this is generally the turnkey model and you are naturally experiencing less of the upside yourself as you are hiring out the other parts.