It’s just a gamble.  

After 45 years investing across many asset classes, many investment types, and everything from lowest risk to outright gambles, I think I finally know the answer.The biggest divide is between investments in which operational control over that investment is with the investor, and investments in which control rests with another party.  

There is a gamble there that the second appraisal comes in at or below the first.

All recent increases and near-term future increases are just gambling.

People have failed twice now with the housing bubble and the recent meteoric increase in rates because they were gambling with the rates to save a percentage point.  

However, as I said an investor could strike an honest deal anticipating that the property will sell for more than the taxes owed and be willing to gamble on that.

(e.g. peace w/ Israel, gambling legalization, etc.)

Renting and eating the loss is a gamble on future rent increases, but the market and high costs might not make it worth the stress.

It's a gamble either way.

Doing Build-4-Rent without all this, is GAMBLING not investing.