Investments are nothing more then legal gambling how much are you willing to risk before you get out of that investment how much are you trying to gain.

If you're going to buy foreclosures at an auction there's going to be some aspect of gambling involved.

You are gambling in an arena with a hefty anti.

I do know that with this being my first rehab,it’s a gamble.

Its a gamble but most things in homes are. 

Call on rental ads and ask the owner some questions.Do enough of all this and you'll start to develop a feel, not too dissimilar to the feel you get playing sports. 

Either  1) You have the money to be cashflow negative (including mortgage) for a hold and flip with appreciation (gamble) 2) If you had the skills, you could find fixer-uppers and flip or improve equity and hold (safer) 3) Or you could be new developments that are ready in 1-2 years and flip them which I have done quite successfully.

My perspective is that if "real estate" is a sport then I'd argue something like managing $800/month units is basketball and $400/month units is football.

This is perhaps a larger gamble.  

Currently I'm working for walmart as a sporting goods dpt.