It always seems like every poster who says investing for appreciation is gambling is willing to bet on depreciation.

@Raden Mantuano not only are you having to bank on appreciation, you are gambling on where interest rates are going to be in 9 years.

Or is it a gamble and the original owner could come back and reclaim the home?

Sell to my long-term tenant for $400,000, and invest proceeds in stock market, while avoiding new roof expense in a year or two and taking a gamble on new tenant when current one leaves if I don't sell him the house.2. 

Other investors gambled, overpaid, negatively cash flowed, and got wiped out.

Her uncle 10 acres away would be either thrilled, more likely, or indifferent at worst.

Real estate is a big lumbering elephant compared to the nimble stock market, but it's still a gamble to wait to time the market for downturns and upturns.   

Buying a home with the idea of selling it (at a profit) is more of a gamble than a strategy unless you buy something with the intention of doing a live-in flip.

Yes our research says that it would be a gamble and not  much cash flow if any at the1500s.

And what kind of gamble are we investors making, when most MF loans are only locked in for 5-7 years?