So neither of us should take offense ...So, are you in the gambling business where you "roll dice", or are you in the investing business where the objective is to learn how to become more profitable?

The Reno economy is very much based on logistics besides tourism/gambling, we have distribution centers for Walmart, Amazon, Chewy, etc.

I think this thought that appreciation is gambling is a horrid statement and simply not true but its been beaten into the starter investor over the last 10 years because of what happened in the GFC..   

I would certainly see what they say instead of gambling that they don't find out, but it's a tough call.As far as how to form it, you can probably do it yourself on the website for the state of Texas, but the operating agreement should DEFINITELY be done by an attorney if there is more than one member and especially if it's not husband and wife.

You bought the house to live in, not to gamble with. 

I know the REFI process can be a bit of a gamble.

No more write offs of gambling losses, employee expenses, tax prep fees, investment fees, etc.529 State Education Accounts can now be used for primary and secondary schools in addition to higher education and can now also be used for religious and other private schoolsYou can no longer unwind a Roth ContributionSo many other nit-picky changes that will apply to very few folks, but will be important to get right for those to whom it does apply.

To find out, speak to the owner, neighbors or any local realtor.To the latter, I'd say this is the same gamble any local builder would take. 

Currently, 1 ton of gold goes for approximately $40,576,000 millionIf you have $40.57 million laying around that you are certain you won't have need for in 20 or 30 years, but that you cannot afford gambling with by investing in riskier or other comparatively illiquid assets, you would look to gold to solve that problem. 

Best of luck with an authentic, educational (and still entertaining) series...I think often of the Glen Campell song lyric "endless compromisin' on my horizon.....like a (chorus) Rhinestone Cowboy"... in the equation about being authentic and real versus just a popular or commercial success....