@Babu Ramadoss you're going to get the it depends answer. it depends on your short and long term goals. many will say chasing appreciation is gambling like the stock market. others say cash is king and never put your money where roi is not maximized. personally, my goal is replacing w2 income in 7 years so cashflow is king for me. that also means I need to use less leverage with lower roi, or do more brrr which would like take longer based on what I buy. your market will likely dictate one or other, and for the record I ignore appreciation in my underwriting as a buy and hold investor. the appreciation will never be realized until I refi out down the road.

This was obviously a bit of a gamble because the house had to appraise above a certain figure in effort to remove the PMI but we chose to do it anyway because the rate reduction in and of itself was worth the cost/effort of the refi.

What other characteristics are you looking for in the area your looking to invest in?

It definitely won't get bigger though.But the main question is based on the code and the characteristics of the situation, do we need the neighbor's signature for this?

Appreciation potential is gambling as far as I'm concerned.

It's too much of a gamble for us not to take it and keep it separate in case of need. 

To further explain this, your subject property will have a 2 BD X 1 BA at a 780 Sq ft. you want to compare this with what other apartments (usually within a 1 mile radius depending on the market) are charging for the same characteristics. 

I’m not so risk adverse that I don’t want to buy something in the next 12 months, but I don’t want to gamble it all away by being over leveraged.

Investing is gambling. 

The hands on aspect of real estate is literally the best part, sometimes the stock market can feel like a gamble.