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...but, the point is: a brand new house is not a foolproof solution to repairs/maintenance (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).

I would not gamble on that unless you have done this many times & know the potential risks. 

- Listing price to buy: ~$700k a few months ago- Rent: $3.4k- Master lease up to 2yr- $10k initial nonrefundable deposit towards down payment- 15% of rent will go towards down payment - First month, security deposit, and $10k due = $16.8k In my opinion you are gambling in a market that is trending down.

The start price is just to suck you into bidding with the hopes you'll get into a gambling frenzy.

I'm an engineer in the oil and gas industry, I moved to Louisiana 5 years ago for work (4 years in the Lafayette area with 1 in New Orleans in the middle).I discovered BP a couple months ago while offshore on a work project.

Most folks mindlessly buy into the standard mantra of cash flow is king and appreciation is gambling, and in so doing they ignore some very important aspects and get tunnel vision, which not only causes them to miss some profitable opportunities but also ignore some factors that may hurt them long term.

Not a huge gamble.

Keeping in mind that every month the property is held on to, he goes deeper and deeper in the hole.Holding out any longer is not investing anymore...it's speculating.If you are headed to a particular destination of great interest, in a rowboat, and about 50 yards off shore you realize the boat has a leak and is sinking...fast, you have two choices:1 - You can row faster, and bail even faster (wait, no partner in the boat, so you have to choose between those two...I suggest rowing like you've never rowed before). 

If the rents are not covering the costs, then you are gambling on appreciation. 

Which is weird considering he was not really halfway done.Anyways good timesThey are Characters...it’s a gamble ...their pride of ownership....Have fun!!!!