If so, am I basically taking a gamble at purchasing through an auction? 

. :)Not sure were this cash flow is gold and appreciation is gambling ever came from...

It requires extensive experience, but you have to be willing to gamble a little bit to be successful.

While we were never overtly irresponsible with money (i.e. gambling debt, drug habits, credit cards, expensive cars), we moved many times, did PhDs, and spent the better part of our 20's and 30's doing things that might have been personally enriching, but were at some level exploitative of our time and not financially beneficial.

I can't wait to learn and share my experiences with this site.The book "Rich Dad Poor Dad" ignited my search for financial freedom, a few finance and accounting classes later eventually led me to Bigger Pockets.I'm currently searching for my first investment property (2+ unit).

You make a very interesting point that I didn't even think about how some agents take a gamble working with people for weeks or longer to only realize that they don't have funds to close.

Crime rateGang activityHorrible weatherNothing to do unless your hobbies are shopping and gambling.

Does this sound like too much of a gamble?

The property is in a great part of Goldsboro and I believe it will increase in value a bit due to a new highway being built nearby and the shopping area improving nearby as well (but that's a gamble).

But if you're willing to take the gamble, the returns could be huge if the development does happen.