nowadays investors tend to implement the GAMBLE factor of:1.

My money will be tied up for at least a year and it seems like a gamble if the house were to burn down ect.

Love the idea of investing in this rather than gambling in the stock market.  

For that reason it's speculative or educated gambling not investing.Realestate had hundreds of proven strategies to generate wealth long term, bitcoin doesn't.That being said if having some bitcoin gives you joy buy some and see where it goes.

Attorney’s aren’t in the business of gambling, just like real estate investors.

Sometimes it's a gamble but at least you're prepared for the repairs. 

The seller needs to give the bank first position, which means if your gamble doesn't pay off, the sellers lose their home.  

We went with a gamble and list it at $135,000 and the day we put the sign out front (and before i actually hit "active" on the MLS i got an offer for $138,500 and then the next day it went live and we got two more offers both for $140,000 with no seller closing costs!

So it was a little bit of a gamble but we'll see how it plays out in the next 10 years. 

However, if you see property that is directly in the path of progress where you see a 2x or 3x return on your money in the next 2 - 3 years, I'd say that's worth taking the gamble over having consistent income or growth from another asset or stock.