Plus, not getting permits for electrical is taking a big gamble on liability.

Originally posted by @Harry Gamble:@Steve Balinski.

Before the moral revolutions of the late 1800's/early 1900's, virtually every city had a "red-light district" where all the undesirable stuff went - gambling, prostitution, homelessness, etc.

Plastic bin lids keep in stink much better. if you want to gamble on it, put up a fence to the side to be respectful so he doesn't have to look at it.

Just to give you a taste we discovered that our last Prez stole $24k from the reserve to gamble.

in my mind this works for the cash buyer but the leveraged buyer thinking they are going to pull all this equity so quickly well that may happen if they get stunning appreciation. but you know appreciation is gambling and a fools errand according to most BP buy and holders  :)  

I think it would be a gamble to assume 100% occupancy 365 days a year on your underwriting model and assumptions.

However, I know someone personally who had his loan called due so it's a gamble you have to be comfortable with. 

Starting with hard money on your first deal can be a gamble/a big bite in my opinion...

There are programs that will lend around 70-75% of the purchase price + any documented repairs but it can be a bit of a gamble if the purchase price + documented repairs will come back at the ARV.