Some resources for you to determine neighborhood quality:
There are fixxer-uppers all over the place... are you looking to buy and live, rent, or sell? Makes a difference. Though more than 99% of Las Vegas RE sales $200,000 and under are cash sales, financing options are always available if you qualify.
I have found some great fixxer-uppers to be homes that are empty and on the market, and have had all the copper-pipes ripped out, selling for substantially less... put in some inexpensive plumbing and fix up the walls, and badda-bing, like new. I have found homes like this that are brand-new, never lived in.
If there are any questions I can answer for you, or if you're ready to search, just give me a call or e-mail; I can help.
Mark Fleysher, MBA, Realtor