It's too much of a gamble and they know way too many "investors" (aka slumlords) that have lost a lot of money or their reputation. 

@Eric Gamble Simply funded acquisition with cash. 

Performing actions that are not a net positive are a gamble or gift.

I like to gamble and like big profits, so I spend most of my time going after hoarder houses and abandoned properties.

Don't get me wrong; there are plenty of issues/problems/quirks that old houses have that new houses don't, and an old house can obviously have hidden problems and big repair/maintenance bills too--which is why thorough due diligence is fundamental to REI...but, the point is: a brand new house is not a foolproof solution to repairs/maintenance headaches (and in some cases, a brand new house can be a much bigger gamble than an older house).This is a particularly important lesson for inexperienced investors, who tend to be the most prone to "shiny object syndrome" (the tendency to let nice aesthetics distract from real, underlying issues).

Normally you do not want to be involved however it is likely that the good tenant will decide to leave and you will be left with the same problem of uncontrolled children when a new tenant moves in.

I had a similar spending problem but it was going out to bars, gambling, and clothes.One day I woke up and was like hey, where do I want to be financially in “x” time frame.

Our biggest challenges are 1) tenant friendly (impossible to increase rents to keep pace with market) 2) High price per door 3) Poor rent to price ratio  If your approach is to gamble on appreciation, Metro Vancouver may be a fit, but I've found better overall returns elsewhere.

@Kaira Resch I'm no lawyer, and I don't know what your local laws/regs are for in a situation like this (so, you'll want to do your own homework on that)However, in many leases, I think there are often clauses that terminate the lease if the unit becomes uninhabitable due to some uncontrollable event (like a fire, or a tree falling through the roof).

Yes it would be a gamble on appreiation, but just that - a gamble.