The other thing that the Agent doesn’t tell you is what your chance of getting the property is - This is like Gambling - it’s like rolling the dice that you will get the home you are applying for.

However, facebook has way too much clutter, spam, and fraud so I really don't use it much for RE purposes. 

They are gambling that FHA will never check in that first year or they have the ability to refi out of it if they do. 

The old adage on BP is don't buy for appreciation that's not investing but gambling, however if you invest get good cash flow and get good appreciation its a home run. 

They are spamming the Denver craigslist repeatedly, so you might check there.

Most likely in an expensive area like California your cost per square foot will really make this conversion worthwhile.Lastly, if you are going to take the gamble, make sure that in worst case scenario that you will at least recoup at least the same amount of money you put in, and that the house will sell faster. 

This "Buy High, Sell Higher" philosophy is risky in my opinion, but when inventory is low and capital plentiful, there are people out there ready to take the gamble. 

If you are unable to do your own title work, you are gambling that there is nothing wrong.

Because an appreciation play is akin to gambling.

I know appreciation can be a gamble, as compared to cash flow.