buying re, and basing all your profit (and success) on the possibility of it appreciating sounds more like gambling then investing.

Then, they are going to agree on an option price that's above market *and* doesn't mind putting down a 5K non-refundable deposit to take the gamble that he's going to be able to fix any problems that wouldn't allow him to buy that house outright in the first place.

If you are gambling on the property appreciating then you are just gambling.

but guaranteed appreciation isn't likely, so you're really kind of gambling...

Now, if there is some concerted efforts by foreigners to buy up Detroit, that is interesting, but a huge gamble IMO.

are you an adventure traveler?

The other thing I am considering is that my area always has several condos available for sale on the same street as me that then become occupied quickly (Proctor and Gamble employees make up 80% of the clients).

I am a newbie from the NYC area and I'm excited to join you all in the exciting adventure(s) of REI.

Around here people aren't too adventurous with flooring, it's mostly carpet, hardwood, or tile.I have seen it in a condo a friend had down in Charlotte NC a few years ago.

Welcome to BP as you start this new adventure!