We rolled the dice on it after doing our due diligence and careful consideration, we gambled that the low occupancy was due to poor management.  

That being said, I won't gamble that property values will improve significantly within the next 5 years as the true improvements are taking place approximately 5-8 blocks southeast.I am going to check with the seller re: a second mortgage to see if thats an option.Seller purchased in 2014 for $100K in 2014 and prior to that, the property was sold in 2009 for $82K.  

You didn't really say what you are trying to accomplish (ie long term buy and hold, instant cash flow, gambling on appreciation) with your real estate investing.

If your goal is simply to "gamble" on appreciation ... then hold it and deal with headaches of remote ownership/management. 

Seriously, I want the input.Wells REO (I believe, been a long time)List:159K1st offer:119K + change, cash offerasked biggest & best, said had a offer at asking in (I assumed and gambled was a financed offer, based off the response)Offered 124K, cash, 15 day closing.

My lender recently notified me that freddie mac & fannie Mae guidelines have changed that don't count gambling income as "income".This puts me in a bad position as I want to invest in more homes, but without getting financed I'm limited on what I can do & at this moment I don't want to change jobs because of this change.

with all of these folks off shore I would say 99.9% of them are Nigerian scammers. and they are targeting you  a beginner who knows no better.. but your rational and intelligent so you can see that this seems a little too easy right.... send a few e mails and they promise you a 2 million dollar loan at 2% you just need to buy this Bond in Thailand to secure the repayment its just 5k for the bond etc etc. 

In every project someone is taking a gamble.

Of course, you can never wait until you have everything, but it seems like there is significantly less one has to work with before starting real estate investing, making one's attempt feel more like a gamble than a calculated risk....Or is there?

I did a bundle of 1000 postcards right before I left to go offshore.