I do know that with this being my first rehab,it’s a gamble.

Most of them are breaking even or even losing a bit of cash.The reality is that the price per unit on a three flat, even on some of the outrageous priced ones in Wicker park UK village are still getting you units at 300k a piece.

Its a gamble but most things in homes are. 

California is not the market for cash flow, it is the market for appreciation which is speculation (gambling).

Either  1) You have the money to be cashflow negative (including mortgage) for a hold and flip with appreciation (gamble) 2) If you had the skills, you could find fixer-uppers and flip or improve equity and hold (safer) 3) Or you could be new developments that are ready in 1-2 years and flip them which I have done quite successfully.

While we were never overtly irresponsible with money (i.e. gambling debt, drug habits, credit cards, expensive cars), we moved many times, did PhDs, and spent the better part of our 20's and 30's doing things that might have been personally enriching, but were at some level exploitative of our time and not financially beneficial.

This is perhaps a larger gamble.  

Lexington is a great town, I am partial to UK, and has really grown over the years!! 

I have begun studying real estate so as to know more about the facilities that I would rent or buy, and to know the best options available to me.Any advice is much appreciated and if anyone is from Southampton, UK please don't hesitate to get in contact with me.Nicholas Finch

It requires extensive experience, but you have to be willing to gamble a little bit to be successful.