If you've got the house a crazy good price, this may make sense for a flip, but it is definitely a gamble. 

We both gave it a couple of goes we got the web domains and chose our products and all was looking good, but then my mother discovered that she had chosen to narrow of a nitch and I couldn't get merchandise because I didn't have a brick and mortar storefront, and we let the accounts go.

It was always just a given that we'd use a title company (which is typically chosen by the seller).

The reality is no matter the profession chosen the strong not only survive but thrive to heights not reached by many.

It is still an extremely good bet odds-wise, but I don't gamble, and $1M would make a very big impact in my life.  

The City has chosen to use property taxes primarily to pay its debts. 

@William Busch You've chosen an exceptional market to start investing in and taken great first steps by joining BP and letting your goals be known.

Are you comfortable gambling and losing $15,000?

If you have the means to not insure a 50k property that has a loss one time for 10-15k of damages, and are comfortable eating those costs for repairs, then hey, that's the risk you are willing to gamble on, and if you are comfortable with that, then that's fine.

If you like to gamble you could start trading options.