Gamble and play the odds in Vegas, but not in business.

We got lucky (ugly house in the perfect neighborhood) and took a big gamble on a courthouse steps auction. 

I'm not very familiar with the area, though I've heard Enterprise is where we should be looking.

Insurance is a lot like gambling: the house always wins.They entice you to pay extra by promising to cover the full cost, minus deductible.

**************/mvc/auction/810929So buying it is a gamble that the owner never pays it off and you could foreclosure on the house.However if owner pays it off then you would loose everything over the $85 you pay?

However, if he is giving you a discounted fee for his labor and is willing to gamble on a percentage of the "profit" instead then that would be okay - but you may have to dig in your pocket to pay that percentage at the back end. 

It probably will continue to be fine until some enterprising tenant tells the utility that they are moving and then doesn't, and uses the utility on my dime.

Not having more info I would gamble that your price needs adjusting .  

just because its real estate does not mean you don't have a business enterprise going.Investing in the right notes  is about as passive as I have seen in all the things I either do or have done... 

Not interested in gambling and holding onto this for a few years.