It is a risk, a gamble, but it might pay out. 

I.e. is there some kind of 'trick' to finding a good deal in the UK?

I got all my families' money out of that speculation and gambling game.  

If you don't know what your buyers criteria is then it's a crap shoot and that's something I don't want to gamble with.

If they're not drawn to the gambling, it's the booze and hookers.

It might be that it is better to get a second property and leave the existing one as is.I think Scott Williamson, has a valid point about appreciation, but that is a gamble.

Beings that's the case here, most renters actually prefer to buy what they want VS gamble on the condition of the appliance left behind by someone else.

I like the concept of real estate being able to control a tangible asset that can have multiple sources of profit where as stocks is slightly above gambling. 

As for the relatively small gamble for the cost of engineer's report and the wait time, that is what I'm really trying to decide rather it is worth it or not.

My brother and I are embarking upon a RE business, initially fix n flips to grow the cash base, with the view to buy and hold down the line.He is based in the UK and will be supplying the capital(his) to finance the purchase and rehab of the target properties.