Real estate is gambling.

I've seen asset protection plans with a land trust, that the beneficial interest is held by a personal property trust then a single member LLC, dual member LLC, c-Corp and then an offshore trust in the Isle of Man or Nevis.

The offshore oil and gas has also took a hit.  

I haven't purchased this way before, and unless you can gamble a bit of cash without having a contract, I wouldn't suggest it.

They may want to gamble on someone else not knowing the 20 year old HVAC, but as you mentioned, it's going to come up during the inspection.  

I am currently working as a Captain for an offshore supply company making $130k a year.

Fortunately, the calculated gamble had paid off.

And those folks from the West and East coast and off shore that bought these homes are virtually single handedly responsible for the values in these areas..

I don't see huge upsides as there is only a few years left in the up swing and after transaction costs, it's not that fruitful to buy now and hold for another 5 years or so.Also, I'm in earthquake country and insurance is a gamble at best as they may deny a claim.

Being a middleman- Realtor, contractor, ect -and get paid off the "investors" gambling.