There's nothing necessarily wrong with that scenario, but buying land and banking on appreciation is gambling. 

That is gambling so be cautious.

Or you can just put all All of the income from the property back into the line of credit for payment .This is tricky because they're really not any terms for us to look at numbers Etc to tell you and say hey this is going to be tricky this is going to be easy and this one's a Gamble.

At that point, your gambling, not investing.

But that is more of a gamble than buying a property with proven (or near-it) rents. 

2% is toast until market corrects, but you could bet(gamble) on appreciation to fill the gap, but don't do that!

Still gambling with 2 or 3 grand though.

These newbies are really just gambling.

Bars and restaurants gained 286,000 jobs while hotel-related hiring totaled 36,000 and amusement, gambling and recreation businesses added 33,000.

I wish I have done it way sooner but glad still did it and gamble my way in.