Right now I'm gambling my only and last savings for an escrow deposit and hoping that money will flip at least up to $5,000 or more.

I agree with Marc, not getting insurance is a huge gamble, as well as not requiring it.Sorry I didn't reply, I haven't frequented this forum too often as of late.

They were free to engage in wild speculation (gambling) because the taxpayer would bail them out.

I relate well with these people and rarely have problems in a little city that is known for drugs, gambling, prostitution, corruption and a high murder rate.

These same "regular folks" that you sympathize with were the ones that would think they were very smart had their gamble paid off.Regarding banks, I think bank management deserves to be blamed by their shareholders, not their borrowers.

Perhaps Ned Flanders (from The Simpsons) was correct... insurance IS a form of gambling.

Or should you gamble with cheap properties in the low 20k - 30k and risk not finding buyers.Would appreciate all inputs before taking the so called leap

Hmmm...so odd that one does what ones thinks is right, and works hard, doesn't drink/break laws/gamble, college/4.0 g.p.a. advanced degrees, feeds the coffers of the mortgage lending profiteers and at church, and there is still no hope for any quality of life above rat-in-a-wheel slavery, and should be grateful to be able to do it...just seems really odd, somewhat inhumane.

However, I think speculation is more of a "gamble" then the cash flow model.

Let's say I get a $100 option on the property, up and get an inspection for another $350, I'm only gambling $450 now.