Renting out property can always be a gamble, with the risk of a bad tenant who could, for example, smash a hole in the wall or bail on paying rent.

traditional stocks have paid 10% since the depression. you could put it in a roth ira, buy a total stock index fund from vanguard & keep it there until retirement & cause yourself a lot less hassle.but if you're gambling on appreciaton, with the leverage, then you can outdo those returns. at 3% appreciaton, you could get 20% return.

Speculation is when you gamble that your short term exit plan will produce a profit.

last home i closed on a property, the bank made me sign a document promising my company wouldn't operate any illegal gambling operations...this with a bank i've closed loans with before....they're constantly adding paperwork to closings....get ready

If you are going for appreciation/gambling, then open any real estate article and they will tell you the highest appreciation that happened in the previous quarters.

This would be a gamble.

However, one thing is certain, if you are going to gamble, Las Vegas is ironically a good place to do it.

High rates of return are addictive and there is a fine line between investing and gambling.   

It can't/shouldn't - unless you have a partner you really trust or want to gamble. 

Lease 2 own exit is a gamble as an exit strategy too.