I would consider commercial but need to educate myself more...residential just feels more comfortable to me due to my past experienceIm not afraid of value add ( thats what i do in single family) but with the funds coming out of my 1031 I need to replace steady income formerly coming from my job, so cant gamble too much ( have other funds to do s little more "value add" investing).  

I dont know that the economy will ever really boom out there without major help in the form of subsidies and tax breaks but thats a major gamble.

Looking back, not a gamble, but in 1990 that was slightly unconventional thinking partially backed by IRR rational.

because my wife is a nervouse wreck when it come to gambling our own money!

I had a hunch someone assembled it wrong.Since I'd already removed and re-packaged the lock I was replacing with this one, to return the other to the store,  didn't want to hassle a return this one, I took a gamble on my hunch that someone installed one piece wrong (the axle 180° off), and I might be able to fix it. 

It's a much safer gamble to make.Plus, if Sacramento ever pulls off a high-speed rail of some sort that could get you from Sacramento to San Jose in an hour, the real estate market here would completely EXPLODE!!!!

If you're looking at $50,000 or more in capital gains, it might be worth the gamble of not finding a suitable property. 

This was a known risk you build into your numbers and now you wait and see whether your gamble pays off or not. 

I can't imagine the bank wants to hold this property, or that anyone else is willing to take a gamble for much higher then I am willing to go with all the unknowns attached to the home. 

Consult your real estate attorney ...Also, see the article Vincent G. linked to.... or gamble your freedom and your investment portfolio.