To depend on the rates to drop substantially to cover refi cost is a gamble.

I grew up in England, UK I struggled to find a profitable market and working a 9-5 job, the hassle of living on payslip to payslip had inevitably led me to venture outside the country.

One learns very quickly and unfortunately usually the hard way that cash tenants are a huge gamble and that section 8 is the only way to find healthy, consistent, positive cash flow in Detroit and many of the other inner cities accross America.

And your gambling a LOT of $ on trying something out, via purchasing a property to try the waters.     

It's like gambling for them but will want a much higher pref and much higher equity upside from syndicator because of little to no track record.

I sold ownership in one of the companies I had invested in the UK and took out some stock investments that I had. 

I would take the gamble that rates will fall on their own over the next 3 years and live with the result. 

In some cases, gross income can include recurring capital gains or unrealized income, winnings from a day of gambling, rental income, and sometimes even interest earned on retirement accounts.

Most who gamble to such do not. 

The platform I invest (gamble?)