You are essentially gambling with an ARM and that is not something you want to do.  

Otherwise, unless you know the area well, I'd say it's more of a gamble.

Many of these guys are looking for side work, but find it difficult to find jobs that work around their daily schedule, and will jump at that.I used to have a great guy in Milwaukee who I'd pay $250/day (and he was thrilled with that), but he recently moved away.  

Although it's 30k under the list price, eventually someone might say yes.Are you saying that the average deal in California is either: 1) diamond in the rough, acquired by hard networking or luck, 2) requires appreciation to get a decent ROI (gambling?)

I'm working to piece together some deals in the Houston market at the moment, I'd be thrilled to connect with you.

Buying an apartment complex known for drugs and crime that is under-performing is an opportunity to decrease the vacancy rate and upgrade the tenant class.Bars on windows, hanging out on the porch, bus stopsD-----I am a thrill seekerThese are properties located in areas with high crime and violence.

After listening to more bp I realize i am more gambling then running a business.

Best case you may only be able to gamble on appreciation.

Also, travel, hospitality, and gambling will be hit hard for the immediate future4.

We also need sports gambling...