Are you investing for cash flow or appreciation - greater Seattle
When I first started learning about this stuff, I read many blogs that said cash flow first, everything else is a bonus. That has been a good safety net and has helped make me FI. However, that said I've also noticed from my own experience, that of others, and blog posts here, that appreciation is where the real money is made.
I've learned on my own that equity/appreciation can be turned into cash flow. For example I just sold a house, made 240K in two years give or take after expenses, and can now roll that profit into index funds, turn key properties, etc.
Yes, appreciation is a bit more risky, but I wouldn't call it gambling if you know the economic fundamentals.