For me, just trying to diversify from the stock market, I was thrilled to make stock market type returns (8-ish per year) with less risk than stocks.

Most of us choose to purchase insurance for financial protection and peace of mind but there are always some who take that gamble so that they can save the money.

., I once made up a little game so I could teach the kids how, when you're gambling, The House Always Wins.

Is your unit so difficult to rent that you are willing to take the risk or are you just desperate and willing to gamble on a very long shot.My advice is keep looking.

I almost purchased a two family with 2700 square feet seven years back for ~$900k - now that same home is probably worth at least $2mm BEFORE the coming "Amazon effect"second choice would be a non-landmarked 2-3 family house not more than .5 mile away from the 7 train. third choice a smaller multi-family building. cap rates will be low in 4% range but if you can hold it for 5-10 years with adequate reserves and money to upgrade, you will do wellhttps://www.zillow.com/homes/for_sale/Queens-New-Y...https://www.zillow.com/homes/for_sale/Queens-New-Y...fourth choicepre-war landmarked coop apartments in Jackson Heights. not an investment per se because you usually can't rent these out but if are an owner-occupant, these will do great. fifth choicea condo in LIC - these are already expensive and you'll probably have negative yield but IRR will be fine over a 5-10 year holdAs happy as I am for the Queens news, I was even more thrilled to hear about Nashville because it is the one and only place I have been out of state investing for the past four years!

@John Bastidas I’ve dealt with these, but typically the county/city won’t reduce the fines (to usually less than 10%) until After the violations are corrected....which makes it somewhat of a gamble for the buyer.IF they can get the fines reduced and paid off, and the lien removed, prior to your closing....no problem.

They way I see it, this is no different than you gambling 1,200/mo in Vegas. 

It is very expensive, long term gain is a complete gamble. 

The time and energy that goes into r/e investing makes it difficult for at least me to go gambling. 

Hey @Charles Gamble, welcome to BiggerPockets!