If I am playing devils advocate a bit, it's only to try and force complexity into the discussion for the benefit of deeper analysis and understanding.

The bank isn't going to let you blow their money.

Expendable income attracts all the cool food joints, breweries, yoga studios, etc. that millennials love.Love prices + cool stuff = millennials crack.And before you know it the area has been "gentrified 2.0" and blows up like crazy.

Although to me I still advocate getting a RE license and build a career . 

Just leave it under the house..instead of using the very costly Trane unit I would use the cheapest no name brand..if it blows up in 8 years who cares?

This is part of the reason I haven't pulled out maximum cash out of every project, as I don't want to build a house of straw , rather one of bricks less the big bad wolf comes a blowing. 

Some states also have advocates that will review certain situations with landlords and tenants for legal help.A big question is what rent your friend is paying per month?

The bank isn't going to let you blow their money.

Detroit is blowing up, but like @Joe Villeneuve said not all areas are the same.

Oil or propane....either one could spike well above the other if the wind so much blows in the wrong direction.Heat pumps are great to a point but no way I’d rely on any of them as the primary heat source in Maine just yet.