There's a lot of risk and a lot of reward.

Beyond the profits you make for yourself, I think this would be one of the more rewarding things about fixing up a run-down property.

Buffett’s returns appear to be neither luck nor magic, but, rather, reward for the use of leverage combined with a focus on cheap, safe, quality stocks.

This rewards unethical behaviors...those taking advantage of the lack of regulation.

The responses I see (and sometimes give) are largely aimed at keeping them grounded in reality, explaining that strategies such as wholesaling (if allowed in their State) are time consuming HARD WORK, which may end up being rewarding to those who can stick at it.ie.

More work but more reward, driving for dollars, look for properties that haven't hit the market yet.  

Although it may be rewarding to pick up the property and hack for a year, you may want to ask yourself: What happens after school and I am ready for school?

Have you ever been in a deal where the one of the Partners did not put any financial equity into a deal but was rewarded with 'sweat equity'?

. - Stupid high property taxesHigh risk can equal high reward.

That would be more of a value add - more rush more reward.