Both seller & buyer were thrilled.

Just thrilled to be on this roller coaster.

Some folks are willing to take the risk in the gamble for appreciation, especially here in CA, they are typically purchasing when the market is down, not high as it is now.

The way to make it less annoying is to gamble (like a dollar) with your family for which property the wholesaler wants before opening the mail.

It is not gambling per se, there are real wells with real chances of finding oil, but it is not another class B multifamily value play for sure.   

You are looking at a extreamly high risk gamble regardless of your past experience.

Some people hedge their bets, and go 50/50 fixed/variable (or some other ratio according to their best gambling/research beliefs, but then focus on paying one down quicker than the other once rates actually change). 

I continue on because I enjoy the thrill of the chase. 

Vegas, even though very hot in the summer, does not have a big drop in the summer because people come for the shows, glitz, gambling. 

If you do that though you can't actually take out any of the cashflow...because the problem with CapEx is that it doesn't actually cost just 8% of your rent. when it come it comes big and heavy, so you'll need to be able to build up to having that reserve account...some people like to gamble and will take it out...I personally don't recommend taking cashflows from your real estate until you're much further along with much larger reserves.