While I am not one to gamble, I do think I have a lower risk aversion than others. 

Throwing a dart at the map in a market you don't know intimately and putting your money in the hands of complete strangers thousands of miles away seems like the greater gamble in this situation to me.

I'm not gambling on appreciation, but I do assign a value on the benefits of owning and holding real estate outside of cash-flow as well because there is a value there and it isn't the same in every deal.

I'd Rather go to Vegas and get a good meal and entertainment if I want to gamble ;-)Jim

I asked Elliot the same question, and he forwarded me over to the following link: https://www.biggerpockets.com/forums/12/topics/715057-out-of-state-brrrr-stepsSome good information there that speaks to having more equity in your deals and not gambling on a major renovations with the assumption that a refi is going to go through.

Already right where we are projects like sports arenas, hospitals,  new commercial and residential buildings are slated to go up soon.

others would be wiped out.all because they sold or did not want to buy lower yield.. chasing yield is gambling as much as those that say buying for appreciation is gambling.. probably worse actually.. 

Also, there are some solid stock choices out there that are not at all at risk of declining steeply but also sport a 5-6% dividend alone.

I live in Oakland and Interested.I know a spot in Pleasanton called PICK 6 sport bar, the owner is very accommodating. 

we simply dont do that here.OH and well we dont pump our own gas anyway.. its illegal.. and well since i went electric i dont even buy gas.but the point is in those areas petty theft is a sport..