I've been an avid BP podcast listener and have immersed myself in as much real estate material as I possibly could have over the last year.

Are you willing to gamble 72 large without an inspection, title insurance and spouse's signoff all under a countdown?  

However, when I was starting out without any knowledge, I found it helpful just to be immersed .

;)  I do have part of my current 401K invested in an ETF that is tied to the NASDAQ so that is my form of "gambling".   

My schedule is very flexible and I’m just looking for a good opportunity to immerse myself in Real Estate!

Of course in any market appreciation is a gamble.- Be aware of management costs.

Not sure where your located but its a gamble to rent and wait.. its only 6k negative a year that's not bad.But if having that debt precludes you from other investments then sometimes its best to cut and run..

After you narrow down on 2-3 markets, connect with people in those markets and fly out there to immerse yourself in the area.I highly recommend reading David Lindahl's book called Emerging Real Estate Markets. 

Any investment is a gamble - not as risky as the craps table, but never guaranteed - and you shouldn't be gambling with your future.

Feels like a gamble with the appraisal.