It would be a big gamble to buy this thing and not break even and then enter into any sort of issues with maintenance or finances.

It might have enough appreciation to offset all the money you throw at the house in payments and maintenance, taxes, etc, but if you want to gamble with your money, there's better ways to do it.I think you need to start with goals and decide if this deal lives up to your deal standards.

Figure out if the niche is right for youAfter you do your first deal, you'll have a better idea of whether the niche you've chosen is right for you.

Just last night I was reading about how my chosen city has a very strong market and some houses actually sell for above the asking price and almost none for far below. 

Have you ever gambled any game in casino when you were in Vegas?

I have told each person that I will be reviewing all applications received that Saturday and will be chosen based on qualifications. 

The projects were chosen from a list of needs by county and local officials.

We're not talking SF-over-the-last-10-years appreciation, but I'm interested in predictable investment returns, not gambling.

You do not want the neighbor listing on mls or other network because you have no way of knowing what someone else will pay for the place (of course, it could also work in your favor but that too is a gamble).

I can gamble and wait till I sell my flip but not sure if the timing is going to be right.