I talk to a lot of California investors and it's a huge gamble to buy out of state especially a market you don't know well.

Talking to a phone number that was listed with it the lady that answered was the survivor of a former employee of associate housing which she said is no longer in business.

Arguably his as he gambled. 

But I also feel like it is one of many things that could be a problem or could not be a problem that unless you are willing to pay to get it checked out ahead of time is going to be a gamble.

If you're OK with a gamble for higher % gains, that's what we have done with a big chunk of our cash.

They have money and they gamble.  

We are in the process of getting ready to rent out our primary home to our daughter and two other ladies...I am assuming that we will need to change our Homeowners insurance to Landlord Insurance when we move out of the house. 

How much money, realistically, can i expect to gamble with in the beginning?  

Or as I like to call it, your selling a ticket to gamble to some gambler. 

"Part of me also sees such things as gambling"Understand something about real estate, It is the riskiest investment you can make!