The pool will be added to by people who can qualify for a loan but for various reasons don't want to 'gamble' on homeownership.Demographics, location, employment opportunities and amenities will all play increasingly important roles to these people.It's an interesting new market for investors but with the same old caveat: that sucker better cash flow.

It is a gamble but it's my passion. 

That area is a big gamble and a lot of things would have to happen for that area to really turn around.  

Not sure, because at that point you're speculating appreciation, which is more of a gamble than investment.Refinancing to break even and using the cash to by a cash flow property may make sense.

If your history shows that you haven't used it correctly in the past, why should they take a gamble on you now?

If you're purely speculating on appreciation, there are better cities to gamble your money on.

(I lived in two duplexes and turned one of my residences into a duplex as I was building my portfolio and those were mostly 1% deals)  If however you think the appreciation on that property will be far faster/higher than others expect then it might be worth a leaner deal at 1%, but appreciation plays are mostly speculation/gambling.  

BLINKERS OFF GUYS  It sounds like your earnings are gambling earnings so I would strongly recommend opening up an llc or Corp and pay yourself a k-1 income.  

that's for him to gamble on.

If you do not have those and still buy, you are gambling ... you may win, you may lose, but keep doing it and eventually the odds will catch up to you.