If I lived in another part of the country and I did the same thing started as an agent at 18 and a broker at 20 and the play was to stack cash flow rentals because appreciation is gambling etc.. that's what I probably would have done and would done.Keep in mind in the 50 60 70s and into the 80s people got started in real estate buying cheap land all over the country as an investmentit was not until about 2001 2002 that smart folks said hey CA real estate is sky hi lets start selling mid west rentals to CA people and other high priced markets.. that's how the turnkey industry or OOS investing industry started..

That's a lot of gambling if you ask me.Then lets think about their case.

But it feels a lot like gambling to me, and I'm a terrible gambler. :)I hope you'll take this in the spirit intended, but it sounds like you are trying to keep all your options open.

Mainly because I am not good at it, and feel it is just gambling.

I think maintaining open lines of communication with the tenant and family will help the situation tremendously.You're taking a gamble, but it's one I would probably take too.

She won't be able to keep up with his spending, or gambling problem or whatever it is.  

If you were single, no kids, I would still say not enough, but the gamble might be a little easier to swing. 

If you’re rents dropped 20% you should still be in the positive long term or you’re gambling.

That's why I'd just take the $34 gamble. 

However, I honestly think it's more of a gamble than real estate is.