It's a gambling term called ratholing. 

Hoping is gambling."

Some wholesalers are just picking cheap properties off of the MLS, gambling they can sell it for more before their contract expires. 

If we wait another two weeks, we think of that as losing something like $750 so it's also a bit of gamble where not getting the final amount is a bit of a wash anyway but at least they would owe it and it's on a contract where if we waited, it's our loss entirely. 

I'm young enough where I think I can take the gamble - worst case, in 5 years, the rents will eventually cover my mortgage as rents rise and inflation occurs.

I love the concept, but it really feels like a gamble on the market not dropping hard at any point.

Some day I will probably play in that arena some just because some huge gains can be made, but it is definitely a gamble on your understanding of the market and what drives it.If you run the numbers for what you would pay in rent and could invest in a cash flow area, or what you would get in rent and pay per month to own a duplex I bet that you will find it is cheaper to rent here and "throw away rent" than it is to buy a property.

No free lunch.For $1497 it appears its all in the apps.I don't buy online...well maybe some cars at auction...if I want to gamble!

Feels similar to gambling.

My mom always taught me that we control about 5% of our environment and life but the way we take care of the 5% affects the 95% of our “uncontrolled” environment.