Buying a property that you know would be cash-flow negative from the start is gambling on appreciation.

If you go into a deal with speculation of "appreciation" and that's your focus, then you are gambling IMHO.

This gives you a better chance to have enough equity to refi five years out. 25 year amortization would likely leave you "upside down" in five years unless interest rates remain at historic lows (not likely - never gamble!).

The gamble is of course I pay the payment out of pocket during turn overs.

Hi allI just received a friend request for Donny Random - Im sorry if this is taking out of context but is Donny real or a spam bot???

To add to your advice, I've found that by not including an email reply option with craigslist, and instead just listing your phone number, you get a lot more legit and no spam.

Delete spam and keep the site maintained to promote discussion.I think Jon has done a great job BTW, (your too Josh) maintaing the site.If you need help let me know, be happy to, I'm usually here anyway...LOL

You could always hope you'll see some appreciation, but from what I have read doing so is a gamble at best.

Any residential mortgage broker can open the dozen spam emails we get a day from hard money and portfolio folks that want minimal paperwork, they just bump your rate 2%+ and do it on an ARM. 

Or are private/HML investors willing to take gambles on new investors with no experience?