(looks up via public records ahead of time so you know the answer; this question usually trips up an imposter reference)I also inject RE lingo into the conversation if I am dubious as to the authenticity of the person. 

I feel the market is gambling.

They tend to have affairs and gamble.

I don't want to gamble that I'll be able to rent it out at the higher rate.Thanks Frankie, At this point I can't tell if there is any value add stuff, because I've only seen the outside which looks alright.

I also gambled on very bad section 8 and lost thousands.

.$10k/year in negative cash flow verses your appreciation....your gamble and your call.

Comparatively, a duplex anywhere near Sydney is around $1,000,000 and rents for around $4,000 per month — no possible way to cash flow so you’d be gambling on appreciation.

I am in full agreement that a positive cash flow is a very important goal, due to the fact it insulates you from gambling on appreciation, equity, and rent increases. 

I took the gamble that possible mold remediation in the basement and structural deficiences wouldn't be a greater than $75k issue. 

I can only assume its located in a rapidly appreciating market where investors are willing to suck it up for a couple of years and let price appreciation do the hard work for them (always a risky gamble in any market).