There is NO worthwhile cash flow here compared to almost any other place in the country, so everyone is gambling strictly on appreciation?    

Why not take a gamble with a hungry newbie on something small and get through the deal with them, rather than relying on them only.

If you just look at appreciation it's not any different from gambling.

Does your wife want you to play a game and gamble your money, or does she expect you to do your homework, learn the market, and invest in something that will bring maximum return with the smallest risk?  

The gamble is don't overpay at the auction.

Each story ignites someone's fire who might've been on the verge of giving up.

Have you seen a documentary called The Retirement Gamble?

If you place $20k bet on Mayweather - and McGregor wins the fight... you will win your hedge ($1,367) but lose the $20k... ie how gambling works.I am not sure of Bovada and maybe their rules on betting but straight line sports betting is binary

Multi-Family (40 units and up)Leveraged (Investors put up max 25%, Bank finances the rest) Value-Add (Finding ways to increase property value and rent)Cashflow Positive (Cashflow positive once stabilized) Refinance & Hold (The ability to pull out 50-100% of our initial capital while keeping the property)Skin the Game (Enough so they're not just gambling with other people's money)  The above seems doable so far by going through a syndicator, although I haven't seen many who want to buy and hold the properties for cash flow and allow investors to pull out their initial investments after a few years.

The whole idea is to get as much money in origination fees as possible to keep running the company and for them to pull out and use for trips, lavish lifestyles, rings, gambling etc.