However - it is not likely to be as stable as well-chosen RE, nor is it going to be leveraged, meaning OPM generating your wealth.

Not into gambling anymore.Swanny

Some have a limit on percentage of units that are allowed to be rentals, and once that limit is reached no new rentals until a rental sells to an owner occupant; some require approval of your chosen tenant if they do allow a rental. 

So I ask and they just say "give me the original plans and 10k and we'll go from there" but that seems like a gamble.

I have chosen to live in the Lower East Side instead of West Allis now that I know more about the area. 

He will be more knowledgeable than I am on your rights and best approach to collect damages.I should not recommend this and it has some risk (but probably worth the gamble) but if your system fails you could try what the person that sold me the property did and try to ignore the demand to hook to sewer and hope the city never checks. 

I am pretty sure it would not even cash flow at 5% ($7,000 down).Now if you thought it would double in price in the next three years, that's a different story, but not one I would gamble on. 

I'd let him be someone else's gamble. 

It doesn't seem so - I've read a lot here and on other financial sites describing the process.The chosen one is PNC Bank.

I was confident enough to offer $10k non refundable upfront as a show of good faith but my partner said that I can go to the casino if I want to gamble :-) Since it is my first property of this size, I listened :-) Also I'm not sure if $10k upfront would have been meaningful.Let's see what happens...Jean