Aside from that, I'd prefer a known good tenant over a gamble any day.  

It's a gamble, though.Just be sure what you do is legal.  

If you're already heavily invested in capital gains stocks and your primary residence, I would say that you are introducing too much risk into your overall portfolio by buying (with leverage) an appreciation-only triplex.If you have a lot of other investments which generate cash-flow like dividend producing stock or cashflow REI and you like to gamble, I don't see a problem at all with buying this property hoping for some appreciation.Also, I would be wary saying you don't need the cash flow if you are only offsetting the negative cashflow with income from your job.  

Or if you are willing to gamble that investment money in the hands of strangers.I wouldn't be.You may think I'm just a negative person.  

Second, if they've been there forever,  do u want to gamble a possible long term tenant but with low rent or higher rent with possibly a lot of turnovers? 

If I make 9% in the market I'm doing a great job, but if I make -9% I'm screwed, so that seems like a huge gamble compared to a guaranteed ROI. 

This seems like a reasonable gamble.

It is a quadraplex and so if I got a full occupancy then all the effort will have ben worth the gamble.

That seems like a crazy gamble. 

I use soap when I shower, and occasionally eat cereal for breakfast: that doesn't mean I'm qualified for a job at a CPG company like Kraft, Proctor & Gamble, or Kellogg's.2) Following on 1), by listing it you make it fair game for the employer to poke around.