At this point, it's still speculation the city will appreciate and is a huge gamble.

Don't gamble.

If you give them 100% EMD you are Taking a big gamble.

I've been keeping tabs on all things SD while over here and I'm looking forward to starting my REI adventure just like @Jacob Thompson when I return.

Open up to new adventures and new people- learn from them but always be weary because some people may have a hidden agenda. #1: you have good options: you may want to drop the money on the current home as you may always refinance later and pull the money out anyway... also think about a rainy day: what if you lose your job... what if you need renovations: i.e. plumbing... etc always have reserves: 6 to 12 months of mostly mortgages incase something happens: once you have the reserves- think about leveraging into the 2nd and 3rd properties (maybe a duplex that will be almost the same purchase price but will yield more money. 

I just started my REI adventure as well and I look forward to seeing everyone at the Real Estate investor meet up at the end of the month.

The whole idea is to get as much money in origination fees as possible to keep running the company and for them to pull out and use for trips, lavish lifestyles, rings, gambling etc.

In Alabama I have low income residence and it is more "adventurous" to say mildly however, it's still good business.

I'm testing different areas of Houston and as mentioned, the Willis house was a gamble to buy as a rental. 

In the end, it is always a gamble.