Unless the property appreciates significantly beyond the average 2-3% which is a gamble something like this does not seem to be a great value.ThanksPesi

I am strictly buy and hold; anything I buy today has to be really appealing-not going to gamble on any dogs or overpriced queens at this stage of the market-and certainly not counting on any appreciation for the next while.

You can call some insurance companies to get actual quotes at any time, so a few phones calls can tell you if he is over paying. you also don't want to go completely cash poor to buy a deal, that's a tough gamble.

The local advantage.I think Denver is more of a gamble, banking on appreciating.

I called Century, Middlesex, Enterprise and they won't do it for non-owner occupied?

Gambling is another term for it.

Are you willing to to gamble your money and maybe lose?

@Harry Gamble I think it's desirable because it's a duplex lot, but the 9 sides parcel that sits back from the road is a very, very odd lot.

When you speculate you are essentially gambling.

Assuming that you are not a general contractor by trade, you can either gamble big money that a house is ok, or you can accept that you will lose an occasional deal to some maniac who doesn't want to do an inspection.