So somewhat of a gamble. 2) Partner with the developer that's already building. 

I live in Vermont and I’m less than thrilled with owning rental units here.

Not too thrilled after taking over, it's a current work in progress. 

Gambling, lotto tickets, tobacco products, excessive drinking.If you go beyond that I would say buying anything with the intention of displaying your wealth.

They do not offer a pre-approval letter so it becomes a gamble that #1) The loan is even approved and I have lost $500 or 2) The property will still be available in 60 days and there is nothing I can show the seller in the meantime about serious interest.Any recommendations for lenders with experience in this would be greatly appreciated!

I think in a large city like Baltimore it’s not worth the gamble depending on what your doing.  

This business isn't about gambling or taking big risks.

The problem is that nobody can predict depreciation so it's more of a gamble, particularly in a state like California where a governor or City council can destroy the market with their heavy-handed regulations. 

A tenant might be thrilled to rent a room for $1,100 a month if there are no studios or 1 bedrooms in the area for under $1,500 a month.I personally believe this strategy is a good one for people just starting out in a hot market like Boston.If you want to do even better, in my scenario, you can rent Unit 1 by the room.

Was over our initial budget, but had great rental history, so we took a gamble.