You have to control or know as many of the issues as possible, otherwise you're just gambling. 

@Richard Gamble and everyone else.  

At this point, it seems like a gamble to try to predict where the adjustable rate would go.

Gives me a bad feeling the more I look around haha, it's not ghetto by any means but it's not necessarily promising either....somewhat of a gamble in my eyes.My basic plan of attack: I'd like to attempt house hacking initially, get a feel for owning a house, renting things out, and working it that way.

I wouldn't suggest gambling.

It is not practical in Ontario to gamble on increasing rents to improve returns when purchasing larger properties. 

I know I took a gamble with this and unfortunately it did not come back to bite me.  

If you go with the ARM you're buying a big gamble for $2k.

It's a gamble not to mention hurricane season is around the corner.

the safest way is to just work like a maniac basically do your regular job and do REI as well, you will be putting in 50-70 hours a week but its safer than gambling that your REI will take off right away.