If you don't your either gambling or guessing with your money.

I am gambling on the timeline for this cycle will be 2 years or less.

;) and take me out for a drink Unless you are still in the mood for gambling.

It was a big gamble because there was no guarantee the market was going back up in the short or long run. 

But thats a gamble.

The gamble is too large.

It's a game of gambling and musical chairs.

I looked at houses in Fountain square a few years back and saw ARV's no higher than 80k within quarter mile, and then two chicks and a hammer, and I believe Ryan etc took the gamble, and we started seeing sales of 150k+ within 1-2 years...

Cash is king in these situations,go with that.No bank is gonna give money in an unknown situation so if you don't have access to the inside of the property for appraisal and approval,you won't get a penny of financing unless you convince hard money lenders to take the gamble with you.You might want to line up some cash investment partners to help with the gap funding if you can't get your $34,000 less offer accepted.Good luck in your endeavor.

But it seemed a small gamble.