Have you ever tried arbitraging in Las Vegas ? 

Most in the 1k range and very nicely renovated. 98% gross rents compared to last month same dates but there are 4 new units that were being renovated that weren't on the market las month.

I'm not in Texas, but I've worked years in Las Vegas, and cutting the AC is absolutely not a good idea.

Destination places like Hawaii, Grand Canyon, New Orleans, Nashville, Las Vegas, Padre Island, Miami, DC, Charleston, New York City, etc will notice the difference significantly. 

This includes Detroit where I have purchased homes that are brick 3 bedrooms, 1 bath, basement and garage for as little as $5K to $10K and needing only $2K to $5K in cosmetic rehab.There are fewer under $10K deals in Detroit now than there were 5 years ago, however, I still find plenty with solid positive cash flow from section 8 tenants for $15K to $20K including purchase and rehab costs.I wish there were more areas like this as I have been getting priced out of cash flowing properties in South Beach, and Las Vegas competition has been increasing every year.  

In Las Vegas proper, the tenant is 100% responsible for utilities< had one stick the water company with an $800 bill and when I called they said they’d try to collect before that tenant could get water in the valley in heir name but I was free and clear. in north Las Vegas however, since the city is involved with garbage, sewer, water and recycling, if the tenant doesn’t pay theirs a lien on the house even if it was in tennants name.

They are close to zero legal air bnb Las Vegas condos.