I see the issue more in the lower end border line credit folks.

It's a little bit of a gamble for both of you, but I think a fair one. 

Hopefully during that time the house appreciates (always a gamble and never guaranteed). 

You can have a cash-flowing property that has a loss for tax purposes, primarily due to the effects of depreciation (a non-cash expense).If you have a negative cash flowing property, then your only financial benefit as an investor is the gamble on property appreciation.

I know I’m ignoring any appreciation, but I hear over and over again not to count on appreciation because that’s a gamble.

I used to manage properties in south side chicago...These were in the semi okay border areas. 

It could appreciate but I consider that gambling.

You'll have guys gambling on the side court and people possibly getting shot over a game or down😳.

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Could also use removal of vinyl siding and painting but that's always a gamble since we never know what we'll find under the vinyl.So as you can see, it's not a great deal, but it's a free duplex with the financing (albeit not great) in place.