So you choose to gamble on losing $2k by "chancing it" as opposed to spending $200 times 10 homes or so?

In a couple years it may pan out so I'd say its a bit of a gamble, I don't think the area will deteriorate/depreciate so you're safe in that regard.

If the loans were fraudulently originated us another issue.

Yep, I'm aware it's a gamble (as a bead of sweat drips down my forehead) but I do have some reserves, I'm still doing a little consulting for my old company, and I have a very supportive gf (who btw is from Chicago).

Are you overlooking fraudulent dealing, so the agent convinces a seller his place is only worth a 75 cents on the dollar and then flips the contract for a dollar on the dollar.

Real estate is gambling.

Population started dying about the time they made illegal gambling illegal.What's going on with the projects? 

I will bet you $1,000,000 that it will not and I DO NOT GAMBLE.

I like cashflow with a little gambling thrown in.I have NPL and performing loans that I'll show you or even sell to you.

But i was finally successful once i put on the BP podcasts in the car where other experienced investors talked about exactly how shes been gambling unknowingly.