That means, I would be gambling on the NOVA/WDC appreciating, but never a gartunee.  

That would have been my gamble had I had the money and pulled the trigger.

I have a one page cover sheet I add to each application with check boxes to show that they have the "deal breaker criteria", a section to score the "nice to have" criteria, and a section to briefly explain my acceptance or rejection.Our Criteria: Complete applicationVerifiable rental historySufficient income/resources to pay rent and liveCredit report showing prior addresses consistent with application We do not deny housing for race, color, religion, sex, national origin, handicap, sexual orientation, marital status, or familial status.We do deny housing to individuals:convicted of manufacturing or selling drugsconvicted of a crime the poses a threat to the property or neighborhood, including repeated disturbances, gambling, prostitution, violence, threats of violence, or rapewhere there is poor prior tenancy: evictions, violations, damage to rental property, poorly handled move outs, amounts are still owing to landlords or utilities.who misrepresent information on the rental application

the proverbial ink isnt dry on my last acquisition---which was my first ever---but i am willing to take a gamble but the significant other is having second thoughts.thanksvijay

The bank doesn't care whether you lend the money to a LLC or whether you go to the casino and gamble it away - they do care about getting paid though.

If there was water pooling in your neighborhood with all the rain and offshore winds pushing the tides in and your property is not much higher than theirs, then I would definitely consider additional flood insurance, which won't be that expensive if you are not in a flood zone, except, of course, for that $250 annual surcharge they just added for investment properties.Also, I actually do add earthquake insurance on my Virginia property as it is only like $20 extra per year and after that scare a few years back and seeing some damage to a relative's home nearby, I thought it prudent.     

Or would I just be gambling?

May be a bit of a gamble, and may or may not be worth it.

You are gambling on XYZ to happen to get your return. 

The other thing that the Agent doesn’t tell you is what your chance of getting the property is - This is like Gambling - it’s like rolling the dice that you will get the home you are applying for.