It was a gamble I was willing to take to get these houses that came with tenants for a low price.

So, I can eat negative CF and gamble on raising rents, and appreciation without repairs due to being a new build and warrantied for at least the first year. 

No electric probably means no heat (blower or igniter) for both units.You may only have 90 or so more days until you start to get freezing temperatures.If your repair is going to be a while, you might want to consider weatherizing the water system by draining it.Also if you used LVT, read the materials that came with it.The one's I have seen have a temperature range to keep it at, and the ones I have seen out of that range have wrinkled to some extent.

With our anti-landlord laws its a huge gamble.

If you are looking for a real gamble (these days) with the upside to win big then maybe the south/southeast.It is all about what you are looking to get out of it and starting moving in that direction.Good luck!

I see how people willingfully have decided to purchase a negative cash flow for income tax bracket reduction and/or a gamble on appreciation - these should be the only exceptions...Curious if you have closed the deal @Matt Messer ?!?

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.