Are you willing to to gamble your money and maybe lose?

@Harry Gamble I think it's desirable because it's a duplex lot, but the 9 sides parcel that sits back from the road is a very, very odd lot.

When you speculate you are essentially gambling.

Assuming that you are not a general contractor by trade, you can either gamble big money that a house is ok, or you can accept that you will lose an occasional deal to some maniac who doesn't want to do an inspection. 

Turns out one was a computer gambling business and the other was an e-cig business.I don't care why the applicant doesn't want to tell you, but if I don't know the business, I don't consider the application. 

if down the line the condo market in this area picked up".That sounds like a big gamble, right there.

where were you when about 200 plus families in La I had to foreclose on and take their investment property from them.. its a nightmare I am not saying no debt its not realistic until you get to a certain level but having free and clear assets is a choice and no one can take them from you..I am a gambler anyway I gamble on appreciation every day.. and value add..so maybe I am not the best to have this argument with.but when I look at the truly wealthy friends I have and I mean truly wealthy  not 7 figures but 8 figure to 9 figure net worths most of what they have is paid for it not all.. unless they are in big syndicated deals.. houses are paid for second houses... house s at the ski areas the lake front homes.. etc etc.. but I guess I am just more in the limit debt camp for long term liabilities..

The other assumption or gamble here is over time the property will appreciate and rents will increase to a point where I no longer am losing on the investment.

Too much speculation, it sounds more like a gamble than an investment.

I'd rather rent a property to someone that's highly qualified than gamble on someone with poor credit performance.