But so many get on BP and say they are not speculators or gamblers so they go for these its got to cash flow investments.

with Nevada uber low prop tax's and the gamblers subsidizing your rental properties its worth it to run all the numbers plus the homes are really easy to maintain where as in most of the deep south there is a ton of upkeep .. not only heavy rains but Hail wind and the like .. on top of that very nasty soils in many areas leading to extra maintenance over time..

And I sometimes felt like a gambler in Las Vegas, doubling down hoping to recoup my losses and come out ahead. 

Frankly, I buy on today's numbers as my crystal ball is always hazy and I'm not much of a gambler.  

I did, for many years (yes, there's a very fine line between investor and degenerate gambler -- and I've walked it :-)...  

I'm not a gambler so I would rather focus on cash flow. 

Particularly the investor, sorry, speculative gambler crowd.Historically low interest rates, historically high house prices, 3-10 year loan terms with 25 year amortization periods, not something I would touch with a 10 foot pole.

Every day, a typical wealthy gambler (many many of these gamblers in the world come to Las Vegas) would bring $3 million to $5 million bank roll for gambling in casino. 

Like any lever, it can exert force in two directions, upending the investor/gambler’s best-laid schemes.

Set high standards for your business, run it like a professional business, follow the low, and you'll mitigate most of the unnecessary issues landlords/risk taking gamblers on this site encounter.