It is #1 in the UK and #3 in the US at the moment, so is doing OK.

It could appreciate but I consider that gambling.

Why do people play the lottery or gamble in Vegas? 

Market timing is akin to gambling IMO.Make good fundamental choices and over the long term you will turn out to be right more than you are wrong.

I know I could theoretically force appreciation through basic value-add improvements, but I'm just scared that theirs a ceiling on those neighborhoods and if I take the gamble with 15k in rehab, that it will never appraise at 100k.

Much better than most stuffy business shows.Hmm, I want to keep this brief but I have so many thoughts… I am British, my wife French and we both live in Dubai, UAE since 2014.Before moving to Dubai I was considering investing in the UK, shortly after I began educating myself and visiting local REI groups I got this job in Dubai and moved on very short notice.

I try not to gamble with my investment money or my clients investments and can usually identify a good deal in a very short period of time.

It's a 50 cent gamble so it's worth trying.

At least the last half decade has proven this to play out.. compared to cash flow were hey we are going to do this and gambling that rents go up and that cap rates stay low and credit will be where it is today and then in 5 to 7 years if everything aligns we exit.the pros on those of course is tax treatment and income as you hold and pretty much every syndicator out there will take a 100k investment. 

You lower your own equity investment and thus you:- Increase your IRR- Lower your own personal risk if the project goes southIt's easy to make money when you're gambling with other people's money.