It's a gamble. 

One place I lived had a 50% owner occupancy rate, meaning 50% had to to be owner occupied.. so it's kind of a gamble, do other owners live there or not?   

It is a gamble for both parties, but a good solution if the seller has no equity.Florida homes may depreciate as some of the other sand states, like CA, NV and AZ.Offer to pay minor maintenance to entice the seller, but only 1st 100 dollars or so.

However, I hate the thought of putting my neck on the line for what is essentially gambling, without getting that nice monthly inflow that makes it all worth it.So, I am thinking of investing in a town about 2 hours away.

I am working offshore currently so it may be a little while before I can set a date.

So I decided to take the gamble and learn from you men and women while my credit catches up to my hard work on fixing it.

the only gamble with this approach is the timeline for the final sale.

I've heard alot of investors say they would never own a property that could flood however I know that some people are willing to take the gamble.

Maybe previous owner spent all the rent revenue on gambling and couldn't pay the mortgage.

Would this be considered gambling?