I'd rather hang on to my money and sit poised and ready for an opportunity than lose on a bad gamble.  

Nonetheless, a gamble either way it goes.

Personally, I view postponing enjoyment in order to hopefully save enough to retire someday is a far greater gamble.  

I have not.The current owner walked away from this home because he is a gambling addict who could no longer afford the payments.  

If you don't your either gambling or guessing with your money.

I am gambling on the timeline for this cycle will be 2 years or less.

I'll finance to find financing for some of it, but needs to put at leaset 25% on the deal.The ARV, I looked on few properties that have the same characteristics that were sold in the last 6 months, because the person who gave me the deal gave me bit different on the ARV which is $90K more than my ARV,  So, I did my due diligent  on this part.  

;) and take me out for a drink Unless you are still in the mood for gambling.

It was a big gamble because there was no guarantee the market was going back up in the short or long run. 

But thats a gamble.