Unless you really know Baltimore I consider buying there gambling , not investing .

I wouldn't bet on either at this stage but if you like a gamble...

Trying to weed people out at local REI meetings to be possible mentors is also gamble and a huge time suck.

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

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.

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.

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

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

Most who gamble to such do not. 

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.