Thats simply gambling on a hunch.

you say Your partner/friend knows the neighborhood and the risks and is willing to gamble.  

I agree to all colleague requests unless they look like spam.

You would be hard pressed to find properties in the 60 sq ft range which  are in your own backyard There is nothing like mining your own neighborhood and investing for both cash flow and appreciation Study you local market and I be you will find both types of properties that would be much less of a gamble then venturing into the unknown 

This is to reduce spamming.

I was trying to reach out to several colleagues locally with a single message but certainly not spam of any kind.

(you are still gambling on appreciation, but the odds are good the rents are rock solid)If it is in National city, chula vista, vista, oceanside, etc..

The guy with a gambling problem can discharge.

If you've got the house a crazy good price, this may make sense for a flip, but it is definitely a gamble. 

It is still an extremely good bet odds-wise, but I don't gamble, and $1M would make a very big impact in my life.