I am in vegas about 11 weeks out of the years working as a subcontractor at the Federal Courthouses there on LV Blvd and I always stay in old town because it is only 4 blocks away and it is dirt cheap. The rooms are not great, but comfortable. I used to stay at 4-Queens until they raised it to $50 or so. Now, Binions and Golden Gate because of the low price of 20 or so.
I had the same vision when back in 2003 and did move to Vegas. I was retired military and my background in legal reporting and transcribing allowed me to stay in vegas for 2 years. During that time, I rented a house in Summerlin and was quite happy there. They had two casinos up there before the new Red Rock, and I would go in for breakfast, make a few small sports bets, and then get comped for Breakfast.
All of that is now gone. Summerlin is still the best place to live, and Red Rock Casino and the area in there is beautiful, giant sportsbook (one of the best looking ones I've seen. (and the place is vacant most of the time.).
Forget about jobs there except for 30 or 60 day substitution jobs, and those who think they are going to make it big on gambling or sports betting had better have a backup plan.
First, don't come looking without at least -- and I do mean least -- 2 grand plus in your pocket. That's just for setting yourself up. Getting utilities, et cetera, is done in person, and deposits are high because of the high come and gone rate.
At least in Old Town you can still find a $5 table for BJ (or less) and it has a certain uniqueness to it. The strip is another matter. I like Vegas, and I have considered moving back, but to raise a family here, I wouldn't recommend it.
The crime rate is another matter. Though I don't like to say things don't trust anyone, that might be the best advice I can give you. Everyone for the most part is out to make a buck, and see you get "f"'ed.
But foremost you need a plan. Set your limits on a daily basis and don't go over them or under them. I had a plan where I would take 35 percent of my winnings each day and put that away as a nest egg. It worked and I was able to have good and bad days, but I kept to my plan.
When I finally did depart Vegas for good, I was up around $14 grand. Not a lot, but for two years of dreams, it was worth it. Nellis AFB is about 5 miles out for retirees like myself, and overall the experience was worth it. When I am there on work, I still keep to my plan, even though it is a week or two. Be consistent in what you do, because you are going to be tempted not to.
Good luck in whatever you decide.