Your buddy has two options, Take a deep breathe and try to double up in the casino or take a step back and start educating himself on the world of RE.  

If you need to work two-three jobs, that what I do: one at a restaurant and one at a Casino to save up enough.I don't  understand why you don't use that real estate license to get a better job though that's what I've been saving my money for.

Still not much better now Stephen, the casino was supposed to help but hasnt done much besides help itself, commercial and residential throughout that area are still boarded up.

Yes, the prices are low, but as Eric said, they were also "low" last year.I know that those casinos have been having huge problems as they borrowed gobs of money to build these things and cannot refi them now, since they aren't worth the amount borrowed.

If you're that big a risk taker, take the money to a casino and put it on red.If you're roof collapses and your furnance dies, where are your cash reserves - then your tenant (who will be a pro at this in poor neighborhoods) will withhold rent for unacceptable living conditions.Be careful and stay away from sales pitches.

@Aaron AkinsHey Aaron, Asheville native, worked in Waynesville for 5+ years and frequent the area as I go to the casino and Cataloochee.

Right behind the stadium and very close to the casino. 

Sell stuff on craigslist, get a loan against a car you own (if you have enough room on DTI), go to a casino....

That means insurance, like casino gambling, is a negative expectation bet. 

The parimutuel horse track and casino, Hoosier Downs owned and operated by Churchill Downs, is a significant attraction to local patrons given the local mall is basically non-existent.