I recieved it as a gift and wasn't thrilled at first because I had a knockoff one as a teenager and it was useless.

Your are better off taken the conservative route than taken a gamble about the future. 

You are trying to show a $60k increase in 8 months - show why your purchase was at a discount and where the market is.This is a duplex - so the appraisal will probably be about $600 - worth the gamble. but don't get carried away making improvements that may increase marketability but not value.

Counting on appreciation is akin to gambling . . . use the variables that you have at least some control over to make decisions.

Some might even say gambling.

There is money in that angle but I won't gamble without solid info.Thanks again.

If REOs are selling up to $110K, you should be thrilled...selling a fully remodeled house at 10% above some REO sale prices shouldn't be very difficult...Congrats!

Calculated risks vs wild gambles that nothing will go wrong are two very different things.

As an investor, how many dollars are you willing to gamble?

The IRS decides to audit Ralph, and summon him to the IRS office.The IRS auditor is not surprised when Ralph shows up with his attorney.The auditor says, “Well, sir, you have an extravagant lifestyle and no full-time employment, which you explain by saying that you win money gambling.